Landstar System (NASDAQ:LSTR) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on LSTR. Janney Montgomery Scott set a $182.00 price target on shares of Landstar System in a report on Wednesday, July 29th. Truist Financial lifted their price objective on shares of Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley reissued an “underweight” rating and set a $145.00 target price on shares of Landstar System in a research report on Monday, July 6th. Finally, Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $196.00.

Landstar System Trading Up 2.7%

LSTR opened at $181.62 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 47.05 and a beta of 0.90. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46. The stock has a fifty day moving average price of $206.69 and a 200-day moving average price of $178.59.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $1.20 EPS. Landstar System’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Landstar System will post 5.8 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a $0.44 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is 41.45%.

Landstar System announced that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 approximately $3,299,166.74. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by insiders.

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 LSTR. Integrated Wealth Concepts LLC grew its stake 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 valued at $566,000 after purchasing an additional 336 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after purchasing an additional 50,142 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after purchasing an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Landstar System by 13.3% during 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 purchasing an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. lifted 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 worth $37,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.