Landstar System (NASDAQ:LSTR) Issues Quarterly Earnings Results

Landstar System (NASDAQ:LSTR) announced its quarterly earnings results on Tuesday. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05), FiscalAI reports. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.20 earnings per share.

Landstar System Price Performance

NASDAQ:LSTR traded down $6.31 during mid-day trading on Tuesday, reaching $185.32. The stock had a trading volume of 552,953 shares, compared to its average volume of 515,669. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46. The stock has a 50-day simple moving average of $208.43 and a two-hundred day simple moving average of $177.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $6.29 billion, a PE ratio of 51.19 and a beta of 0.89.

Analysts Set New Price Targets

LSTR has been the topic of a number of research reports. Stifel Nicolaus lifted their price target on shares of Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group boosted their price target on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Robert W. Baird upped their price objective on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Finally, Truist Financial increased their target price on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $192.67.

Insider Transactions at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the company’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 transaction of $261,804.00. Following the transaction, the chief financial officer 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 SEC filing for this sale provides additional information. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Landstar System

Hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its holdings in Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after buying an additional 336 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after buying an additional 50,142 shares during the period. Empowered Funds LLC increased its stake in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after acquiring an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings 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 valued at $37,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.