Landstar System (NASDAQ:LSTR) Reaches New 1-Year High – Should You Buy?

Landstar System, Inc. (NASDAQ:LSTR)’s share price reached a new 52-week high on Friday . The stock traded as high as $224.85 and last traded at $222.93, with a volume of 84387 shares traded. The stock had previously closed at $219.55.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Stifel Nicolaus upped their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Susquehanna upped their price target on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Truist Financial lifted their price objective on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $183.00.

Landstar System Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $7.40 billion, a P/E ratio of 60.24 and a beta of 0.88. The business’s fifty day moving average price is $181.14 and its 200-day moving average price is $159.00.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $0.95 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Landstar System, Inc. 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 will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Landstar System declared that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Landstar System

A number of large investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in Landstar System by 151,424.4% in the 4th 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 raised its position in Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after purchasing an additional 341,808 shares during the period. First Trust Advisors LP raised its position in 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 worth $179,315,000 after purchasing an additional 179,294 shares during the period. AQR Capital Management LLC raised its position 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 during the period. Finally, JPMorgan Chase & Co. raised its position in Landstar System by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock worth $91,492,000 after purchasing an additional 21,163 shares during the period. Hedge funds and other institutional investors 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.