Landstar System, Inc. (NASDAQ:LSTR) Receives $179.36 Average Price Target from Brokerages

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $179.3636.

Several research firms have weighed in on LSTR. Robert W. Baird set a $193.00 target price on shares of Landstar System in a report on Wednesday, April 29th. Stifel Nicolaus raised their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. UBS Group raised their price target on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company raised their price target on shares of Landstar System from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th.

Institutional Investors Weigh In On Landstar System

Several hedge funds have recently modified their holdings of the company. Essential Partners LLC boosted its stake in shares of Landstar System by 58.3% during the 1st quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock worth $44,000 after purchasing an additional 102 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Landstar System by 13.4% in the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after acquiring an additional 29,595 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in shares of Landstar System in the first quarter worth approximately $204,000. Amundi boosted its position in shares of Landstar System by 2,254.2% in the first quarter. Amundi now owns 79,173 shares of the transportation company’s stock worth $12,692,000 after acquiring an additional 75,810 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Landstar System by 133.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,256 shares of the transportation company’s stock worth $201,000 after acquiring an additional 719 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

NASDAQ:LSTR opened at $194.01 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $169.40 and a two-hundred day moving average price of $153.58. Landstar System has a twelve month low of $119.32 and a twelve month high of $195.84. The company has a market capitalization of $6.58 billion, a P/E ratio of 53.59 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts expect that Landstar System will post 5.55 earnings per share for the current fiscal year.

Landstar System announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

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.