Robert W. Baird Forecasts Strong Price Appreciation for Landstar System (NASDAQ:LSTR) Stock

Landstar System (NASDAQ:LSTR) had its price target raised by stock analysts at Robert W. Baird from $195.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s target price points to a potential upside of 4.09% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Stifel Nicolaus increased their price objective on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, UBS Group increased 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. Two equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.91.

Landstar System Stock Down 1.4%

Shares of Landstar System stock opened at $216.15 on Wednesday. Landstar System has a 1 year low of $119.32 and a 1 year high of $228.46. The business has a 50-day moving average of $189.82 and a two-hundred day moving average of $163.95. The company has a market capitalization of $7.33 billion, a P/E ratio of 59.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Landstar System will post 5.57 EPS for the current year.

Landstar System declared that its board has initiated a share buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to repurchase 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 shares are undervalued.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Landstar System by 10.9% during the first quarter. NewEdge Advisors LLC now owns 2,834 shares of the transportation company’s stock valued at $454,000 after purchasing an additional 278 shares during the last quarter. Essential Partners LLC boosted its position in Landstar System by 58.3% during the first quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 102 shares during the last quarter. Bank of America Corp DE boosted its position in Landstar System by 13.4% during the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after purchasing an additional 29,595 shares during the last quarter. Bull Harbor Capital LLC acquired a new position in Landstar System during the first quarter valued at approximately $204,000. Finally, Amundi boosted its position in Landstar System by 2,254.2% during the first quarter. Amundi now owns 79,173 shares of the transportation company’s stock valued at $12,692,000 after purchasing an additional 75,810 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.