Landstar System, Inc. (NASDAQ:LSTR) Given Average Recommendation of “Hold” by Brokerages

Landstar System, Inc. (NASDAQ:LSTR) has been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $185.9091.

Several analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Truist Financial upped their price target on shares of Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Morgan Stanley upped their price target 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. Robert W. Baird upped their price target on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th.

Landstar System Stock Performance

LSTR opened at $207.40 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of 57.29 and a beta of 0.88. The firm’s fifty day moving average price is $192.21 and its 200 day moving average price is $165.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. Landstar System has a 12-month low of $119.32 and a 12-month high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. As a group, research analysts expect that Landstar System will post 5.57 EPS for the current fiscal year.

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

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. 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 presently 44.20%.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diana M. Murphy sold 11,246 shares of the business’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 sale, the director 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 position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by insiders.

Institutional Trading of Landstar System

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in Landstar System during the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Landstar System during the third quarter worth about $25,000. Global Retirement Partners LLC grew its position 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 worth $27,000 after acquiring an additional 144 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 acquiring an additional 142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after acquiring an additional 298 shares during the last quarter. 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.