Stephens Upgrades Landstar System (NASDAQ:LSTR) to Strong-Buy

Landstar System (NASDAQ:LSTR) was upgraded by investment analysts at Stephens to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

LSTR has been the subject of a number of other reports. UBS Group lifted 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, July 4th. Truist Financial boosted their target price on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings raised Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Finally, Susquehanna increased their price target on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Landstar System presently has an average rating of “Hold” and an average target price of $189.09.

Landstar System Stock Performance

NASDAQ LSTR opened at $203.71 on Wednesday. The business’s 50 day moving average price is $200.89 and its 200-day moving average price is $171.36. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The company has a market cap of $6.91 billion, a P/E ratio of 56.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. Sell-side analysts predict that Landstar System will post 5.66 earnings per share for the current year.

Landstar System announced that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by insiders.

Institutional Trading of Landstar System

A number of hedge funds have recently added to or reduced their stakes in LSTR. Los Angeles Capital Management LLC bought a new position in Landstar System during the 4th quarter worth about $25,000. Global Retirement Partners LLC raised its holdings in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Quarry LP bought a new stake in shares of Landstar System in the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC lifted its position in shares of Landstar System by 41.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 142 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.