Landstar System (NASDAQ:LSTR) Price Target Raised to $190.00

Landstar System (NASDAQ:LSTR) had its price target raised by Truist Financial from $145.00 to $190.00 in a report released on Wednesday, Marketbeat.com reports. Truist Financial currently has a hold rating on the transportation company’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company raised Landstar System from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $170.00 in a research note on Tuesday, January 6th. TD Cowen reaffirmed a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. Weiss Ratings lowered Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. Barclays lifted their price target on Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Finally, Stifel Nicolaus lifted their price target on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $178.45.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded down $2.51 during trading on Wednesday, reaching $181.56. The stock had a trading volume of 591,785 shares, compared to its average volume of 429,630. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.75 and a current ratio of 1.88. The business has a fifty day moving average price of $162.01 and a 200-day moving average price of $148.18. The stock has a market cap of $6.17 billion, a PE ratio of 50.15 and a beta of 0.85. Landstar System has a 1-year low of $119.32 and a 1-year high of $195.84.

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 firm 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 was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. On average, equities analysts forecast that Landstar System will post 5.54 earnings per share for the current fiscal year.

Landstar System declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Landstar System Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Hedge Funds Weigh In On Landstar System

A number of institutional investors have recently added to or reduced their stakes in the stock. Petros Family Wealth LLC lifted its position in Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after buying an additional 73 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in Landstar System by 0.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after buying an additional 78 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after buying an additional 78 shares in the last quarter. SkyView Investment Advisors LLC raised its position in Landstar System by 1.4% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 89 shares during the period. Finally, Cardinal Capital Management raised its position in Landstar System by 0.4% in the third quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.