Landstar System (NASDAQ:LSTR) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Landstar System (NASDAQ:LSTR) issued its quarterly earnings results on Tuesday. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.05), FiscalAI reports. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. During the same period in the prior year, the business posted $1.20 earnings per share.

Landstar System Stock Performance

Shares of LSTR stock traded down $6.31 during mid-day trading on Tuesday, reaching $185.32. The stock had a trading volume of 552,953 shares, compared to its average volume of 515,669. The firm’s 50 day simple moving average is $208.43 and its 200 day simple moving average is $177.57. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System has a one year low of $119.32 and a one year high of $228.46. The firm has a market cap of $6.29 billion, a PE ratio of 51.19 and a beta of 0.89.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Landstar System

Several institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System in the 4th quarter valued at $25,000. Global Retirement Partners LLC boosted its position in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Quarry LP acquired a new stake in shares of Landstar System during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its position in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Landstar System by 126.6% in the second quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 176 shares during the period. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LSTR shares. Barclays increased their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Truist Financial upped their price target on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Susquehanna increased their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $192.67.

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.