Landstar System (NASDAQ:LSTR) Stock Price Expected to Rise, Truist Financial Analyst Says

Landstar System (NASDAQ:LSTR) had its price target raised by analysts at Truist Financial from $190.00 to $205.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Truist Financial’s price target points to a potential downside of 3.03% from the stock’s current price.

Several other research analysts have also commented on the stock. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. boosted their price target on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” 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. Morgan Stanley reiterated an “underweight” rating and set a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Finally, Robert W. Baird raised their target price on Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $194.64.

Landstar System Stock Down 0.7%

Shares of Landstar System stock opened at $211.41 on Wednesday. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 58.40 and a beta of 0.89. The stock has a 50-day simple moving average of $203.09 and a 200-day simple moving average of $173.45. Landstar System has a 52-week low of $119.32 and a 52-week high of $228.46. 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 released its quarterly earnings data 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts expect that Landstar System will post 5.72 earnings per share for the current fiscal year.

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

Insider Activity

In other news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated 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 in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Landstar System during the fourth quarter worth approximately $25,000. Quarry LP acquired a new position in shares of Landstar System in the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC boosted its position in Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Landstar System by 1,490.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 298 shares during the last quarter. 97.95% of the stock is 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.