Landstar System (NASDAQ:LSTR) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Landstar System (NASDAQ:LSTR) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on the stock. 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. Stifel Nicolaus lifted their price target on shares of Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Evercore set a $181.00 price target on Landstar System in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, 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 note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $189.09.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $203.71 on Wednesday. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46. The firm has a market capitalization of $6.91 billion, a P/E ratio of 56.27 and a beta of 0.89. 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 company’s fifty day moving average price is $200.89 and its 200 day moving average price is $171.36.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating 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 company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Landstar System will post 5.66 earnings per share for the current fiscal year.

Landstar System declared that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Landstar System Dividend Announcement

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

Insider Buying and Selling at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on 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 sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated 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 approximately $3,299,166.74. This trade represents a 7.35% 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC boosted its position in Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after acquiring an additional 66 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Landstar System in the 2nd quarter worth $6,064,000. GAMMA Investing LLC lifted its stake in Landstar System by 31.9% during the second quarter. GAMMA Investing LLC now owns 2,757 shares of the transportation company’s stock valued at $570,000 after buying an additional 667 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Landstar System by 130.5% in the 2nd quarter. Versant Capital Management Inc now owns 839 shares of the transportation company’s stock valued at $174,000 after acquiring an additional 475 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Landstar System by 10.9% in the first quarter. NewEdge Advisors LLC now owns 2,834 shares of the transportation company’s stock valued at $454,000 after purchasing an additional 278 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.