Landstar System (NASDAQ:LSTR) Price Target Raised to $204.00

Landstar System (NASDAQ:LSTR) had its target price upped by JPMorgan Chase & Co. from $198.00 to $204.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other brokerages have also weighed in on LSTR. Susquehanna raised their price target on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Janney Montgomery Scott set a $182.00 target price on shares of Landstar System in a research report on Wednesday. Wall Street Zen raised Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Evercore set a $181.00 price target on Landstar System in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their price objective on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $194.62.

Landstar System Stock Performance

Shares of LSTR opened at $174.77 on Wednesday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 45.28 and a beta of 0.89. The company’s fifty day moving average is $207.44 and its 200-day moving average is $178.08. The company has a quick ratio of 1.88, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46.

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

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

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be given a $0.44 dividend. The ex-dividend date is Tuesday, August 18th. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is 45.60%.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The shares were 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 of the company’s stock, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the company’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 transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was 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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LSTR. Elevation Wealth Partners LLC lifted its position in Landstar System by 41.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after buying an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Landstar System by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after acquiring an additional 68 shares during the last quarter. Petros Family Wealth LLC grew its position in Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after acquiring an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after acquiring an additional 78 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Landstar System by 1.4% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after acquiring an additional 89 shares during the last quarter. 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.