Truist Financial Issues Positive Forecast for Landstar System (NASDAQ:LSTR) Stock Price

Landstar System (NASDAQ:LSTR) had its price objective lifted by Truist Financial from $190.00 to $205.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the transportation company’s stock.

LSTR has been the subject of several other reports. Barclays increased their price objective on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. TD Cowen boosted their target price on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. UBS Group raised their price target on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $194.64.

Landstar System Stock Performance

LSTR stock opened at $207.81 on Wednesday. Landstar System has a one year low of $119.32 and a one year high of $228.46. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 57.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50-day simple moving average of $203.62 and a two-hundred day simple moving average of $174.14.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate 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%. Landstar System’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. On average, equities analysts forecast that Landstar System will post 5.72 EPS for the current fiscal year.

Landstar System declared that its board has authorized a stock repurchase 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 repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio is currently 44.20%.

Insider Buying and Selling at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a legal 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 transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LSTR. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System in the fourth quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after purchasing an additional 144 shares during the last quarter. Quarry LP purchased a new stake in shares of Landstar System during the third quarter worth $25,000. Elevation Wealth Partners LLC grew its holdings in shares of Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after buying an additional 66 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

About Landstar System

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.