Landstar System (NASDAQ:LSTR) Reaches New 12-Month High – Here’s Why

Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Stifel Nicolaus raised their price objective on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.00.

Landstar System Trading Up 0.7%

The firm has a market capitalization of $7.50 billion, a PE ratio of 60.95 and a beta of 0.88. The stock’s 50-day moving average price is $179.92 and its 200 day moving average price is $158.59. 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 (NASDAQ:LSTR) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. On average, sell-side analysts expect that Landstar System, Inc. will post 5.55 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Landstar System’s dividend payout ratio (DPR) is 44.20%.

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

Hedge Funds Weigh In On Landstar System

A number of institutional investors have recently modified their holdings of LSTR. Los Angeles Capital Management LLC purchased a new position in shares of Landstar System during the fourth quarter worth approximately $25,000. Quarry LP purchased a new position in Landstar System in the third quarter worth $25,000. Global Retirement Partners LLC grew its holdings in Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after purchasing an additional 144 shares during the last quarter. UMB Bank n.a. grew its holdings in Landstar System by 335.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after purchasing an additional 225 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.