Landstar System (NASDAQ:LSTR) Trading 4.4% Higher – Should You Buy?

Landstar System, Inc. (NASDAQ:LSTR)’s stock price traded up 4.4% during trading on Friday . The company traded as high as $173.54 and last traded at $175.3870. 59,043 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 529,511 shares. The stock had previously closed at $167.95.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday. Truist Financial lifted their price objective on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their price objective 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. 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. Based on data from MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus price target of $179.36.

Landstar System Stock Performance

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 business’s 50 day moving average is $165.75 and its 200 day moving average is $151.13. The stock has a market capitalization of $5.92 billion, a PE ratio of 48.18 and a beta of 0.85.

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

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s payout ratio is 44.20%.

Landstar System announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Landstar System

Several large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in 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 during the period. Boston Partners boosted its position in Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after buying an additional 341,808 shares during the period. First Trust Advisors LP boosted its position in Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after buying an additional 179,294 shares during the period. AQR Capital Management LLC boosted its position in Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Landstar System by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after buying an additional 21,163 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.