Brokerages Set Landstar System, Inc. (NASDAQ:LSTR) PT at $194.62

Landstar System, Inc. (NASDAQ:LSTR) has been assigned a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $196.00.

Several research analysts have weighed in on LSTR shares. Wells Fargo & Company increased their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, June 5th. The Goldman Sachs Group increased their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research note on Thursday, July 16th. TD Cowen dropped their target price on Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Zacks Research raised shares of Landstar System from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Truist Financial raised their price target 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.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $179.35 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. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46. The stock has a 50 day moving average of $206.25 and a 200-day moving average of $178.76. The company has a market capitalization of $6.09 billion, a P/E ratio of 46.46 and a beta of 0.90.

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

Landstar System declared that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization allows the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Landstar System Increases Dividend

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

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction on 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. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value 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 $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Landstar System

A number of large investors have recently bought and sold shares of LSTR. M&T Bank Corp raised its position in shares of Landstar System by 151,424.4% in the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after buying an additional 6,290,171 shares in the last quarter. Boston Partners increased its stake in Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after acquiring an additional 341,808 shares during the last quarter. First Trust Advisors LP increased its stake in Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after acquiring an additional 179,294 shares during the last quarter. AQR Capital Management LLC raised its position in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after purchasing an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after purchasing an additional 370,253 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.