Landstar System (NASDAQ:LSTR) Receives “Underweight” Rating from Morgan Stanley

Landstar System (NASDAQ:LSTR)‘s stock had its “underweight” rating reiterated by research analysts at Morgan Stanley in a research note issued on Monday,Benzinga reports.

Several other equities research analysts have also recently weighed in on LSTR. Susquehanna upped their price target on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Barclays increased their price objective on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. TD Cowen raised their price objective on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Finally, UBS Group upped their target price on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $189.09.

Landstar System Stock Performance

Landstar System stock opened at $208.21 on Monday. The stock’s 50 day simple moving average is $199.44 and its two-hundred day simple moving average is $170.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 57.52 and a beta of 0.89. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its 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 prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts expect that Landstar System will post 5.57 earnings per share for the current fiscal year.

Landstar System declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.74% of the company’s stock.

Institutional Trading of Landstar System

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of Landstar System in the fourth quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Landstar System during the third quarter valued at approximately $25,000. Global Retirement Partners LLC raised its holdings in Landstar System by 320.0% in the 4th 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. lifted its position in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares in 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. 97.95% of the stock is currently owned by 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.