Landstar System (NASDAQ:LSTR) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Landstar System (NASDAQ:LSTR) in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has a $145.00 price target on the transportation company’s stock.

A number of other brokerages have also recently commented on LSTR. Robert W. Baird raised their price target on Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Susquehanna upped their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Truist Financial upped their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.09.

Landstar System Trading Down 0.6%

Shares of Landstar System stock opened at $202.29 on Monday. The stock has a market cap of $6.86 billion, a P/E ratio of 55.93 and a beta of 0.89. 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 business’s 50 day moving average is $199.92 and its 200-day moving average is $170.53.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Landstar System will post 5.57 earnings per share for the current fiscal year.

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

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the business’s 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 $3,299,166.74. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently bought and sold shares of LSTR. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System in the 4th quarter valued at about $25,000. Quarry LP bought a new stake in Landstar System in the 3rd quarter valued at about $25,000. Global Retirement Partners LLC increased its holdings in shares of Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Landstar System by 1,490.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds 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.