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

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been given an average rating of “Hold” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $189.0909.

A number of brokerages recently weighed in on LSTR. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Morgan Stanley restated an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a research note on Monday. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Barclays lifted their price target on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Robert W. Baird boosted their price target on Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th.

Landstar System Stock Down 0.1%

NASDAQ:LSTR opened at $203.71 on Thursday. Landstar System has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 56.27 and a beta of 0.89. The stock has a fifty day simple moving average of $200.89 and a 200-day simple moving average of $171.36. 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 (NASDAQ:LSTR) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Analysts anticipate that Landstar System will post 5.66 EPS for the current year.

Landstar System announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Landstar System Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System’s payout ratio is 44.20%.

Insider Buying and Selling at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC increased its position in Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after purchasing an additional 336 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after purchasing an additional 50,142 shares during the period. Empowered Funds LLC lifted its position in shares of Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after purchasing an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Landstar System by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after purchasing an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.