Landstar System (NASDAQ:LSTR) Price Target Raised to $185.00

Landstar System (NASDAQ:LSTR) had its target price increased by UBS Group from $147.00 to $185.00 in a report issued on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

LSTR has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Barclays increased their price objective on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Weiss Ratings lowered shares of Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. TD Cowen increased their price objective on shares of Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Evercore set a $181.00 price objective on shares of Landstar System in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $178.45.

Landstar System Stock Performance

Shares of LSTR traded down $2.51 during trading hours on Wednesday, hitting $181.56. The company had a trading volume of 591,785 shares, compared to its average volume of 429,630. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 50.15 and a beta of 0.85. The business has a fifty day moving average of $162.01 and a 200-day moving average of $148.18. Landstar System has a 12 month low of $119.32 and a 12 month high of $195.84. The company has a quick ratio of 1.75, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data 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. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Landstar System will post 5.54 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 outstanding shares. This buyback authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

Institutional Investors Weigh In On Landstar System

Large investors have recently bought and sold shares of the company. Peterson Wealth Services grew its stake in Landstar System by 1,108.4% during the third quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company’s stock worth $1,343,000 after buying an additional 10,053 shares in the last quarter. Alps Advisors Inc. boosted its position in Landstar System by 69.8% during the 3rd quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company’s stock worth $11,626,000 after buying an additional 38,992 shares during the period. Ballast Asset Management LP boosted its position in Landstar System by 28.2% during the 3rd quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company’s stock worth $4,238,000 after buying an additional 7,614 shares during the period. Retirement Systems of Alabama boosted its position in Landstar System by 48.2% during the 3rd quarter. Retirement Systems of Alabama now owns 63,299 shares of the transportation company’s stock worth $7,758,000 after buying an additional 20,586 shares during the period. Finally, Fenimore Asset Management Inc boosted its position in Landstar System by 231.3% during the 3rd quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after buying an additional 238,173 shares during the period. 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.