Landstar System, Inc. (NASDAQ:LSTR) Receives Average Rating of “Hold” from Analysts

Landstar System, Inc. (NASDAQ:LSTR) has earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $183.00.

Several analysts recently issued reports on LSTR shares. Truist Financial increased their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Susquehanna increased their target price on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Stifel Nicolaus increased their target price on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Evercore set a $181.00 target price on shares of Landstar System in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their target price on shares of Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $224.27 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System has a 1 year low of $119.32 and a 1 year high of $228.46. The business has a fifty day simple moving average of $187.65 and a 200 day simple moving average of $162.48. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 61.95 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.95 earnings per share. Landstar System’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Landstar System will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s dividend payout ratio is presently 44.20%.

Landstar System declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Landstar System

Several hedge funds have recently bought and sold shares of LSTR. M&T Bank Corp increased its position in Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after buying an additional 6,290,171 shares during the last quarter. AQR Capital Management LLC increased its position in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after buying an additional 641,319 shares during the last quarter. Millennium Management LLC increased its position in Landstar System by 910.2% during the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after buying an additional 488,238 shares during the last quarter. Bank of Montreal Can increased its position in Landstar System by 5,643.4% during the fourth quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after buying an additional 380,024 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after purchasing an additional 370,253 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.