Landstar System (NASDAQ:LSTR) Reaches New 52-Week High – Should You Buy?

Landstar System, Inc. (NASDAQ:LSTR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $196.88 and last traded at $195.49, with a volume of 5831 shares. The stock had previously closed at $191.11.

Analyst Ratings Changes

A number of research analysts recently weighed in on LSTR shares. Robert W. Baird set a $193.00 price objective on Landstar System in a report on Wednesday, April 29th. Weiss Ratings raised Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. UBS Group upped their price objective on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Susquehanna upped their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Benchmark reissued a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $179.36.

Landstar System Trading Up 3.5%

The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 55.48 and a beta of 0.85. The business has a 50 day moving average of $170.39 and a 200 day moving average of $154.05.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. On average, research analysts forecast that Landstar System, Inc. will post 5.55 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Landstar System announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Landstar System

A number of hedge funds have recently added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC boosted its stake in Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after buying an additional 336 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after buying an additional 50,142 shares during the last quarter. Empowered Funds LLC boosted its stake in Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after buying an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Landstar System by 13.3% in the 1st 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 buying an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

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.