Landstar System (NASDAQ:LSTR) Price Target Raised to $168.00

Landstar System (NASDAQ:LSTR) had its price objective upped by The Goldman Sachs Group from $147.00 to $168.00 in a research note issued to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. Susquehanna lifted their price target on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Evercore set a $181.00 price objective on shares of Landstar System in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their target price on Landstar System from $175.00 to $186.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Landstar System presently has an average rating of “Hold” and an average price target of $192.42.

Landstar System Stock Performance

Shares of NASDAQ:LSTR opened at $211.56 on Thursday. The business’s 50-day simple moving average is $204.78 and its 200 day simple moving average is $174.86. The company has a market cap of $7.18 billion, a P/E ratio of 58.44 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. Landstar System has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. On average, sell-side analysts forecast that Landstar System will post 5.73 earnings per share for the current fiscal year.

Landstar System announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Landstar System Dividend Announcement

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

Insider Activity

In other news, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Landstar System

A number of institutional investors and hedge funds have recently modified their holdings of LSTR. M&T Bank Corp raised its position in shares of 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 purchasing an additional 6,290,171 shares during the period. Boston Partners boosted its position in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after purchasing an additional 341,808 shares during the period. First Trust Advisors LP boosted its position in shares of Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after purchasing an additional 179,294 shares during the period. AQR Capital Management LLC increased its stake in Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after purchasing an additional 370,253 shares in 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.