Landstar System (NASDAQ:LSTR) Raised to Buy at Wall Street Zen

Landstar System (NASDAQ:LSTR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Barclays increased 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 report on Thursday, June 25th. UBS Group lifted their price objective on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Morgan Stanley boosted their price objective on shares of Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Susquehanna upped their target price on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus target price of $189.09.

Landstar System Price Performance

NASDAQ:LSTR opened at $208.21 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System has a 12-month low of $119.32 and a 12-month high of $228.46. The stock’s fifty day simple moving average is $199.44 and its 200-day simple moving average is $169.95. The firm has a market capitalization of $7.06 billion, a P/E ratio of 57.52 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Landstar System will post 5.57 earnings per share for the current year.

Landstar System announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in Landstar System by 196.5% during the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock valued at $884,000 after purchasing an additional 4,075 shares during the last quarter. Gotham Asset Management LLC increased its position in shares of Landstar System by 65.0% during the 3rd quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock worth $31,896,000 after purchasing an additional 102,524 shares during the last quarter. Fenimore Asset Management Inc increased its position in shares of Landstar System by 42.5% during the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after purchasing an additional 145,035 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Landstar System by 673.0% during the 4th quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock worth $3,040,000 after purchasing an additional 18,420 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Landstar System by 31.8% during the 3rd quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock worth $118,184,000 after purchasing an additional 232,682 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

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.