Landstar System, Inc. (NASDAQ:LSTR) Receives $194.62 Consensus Target Price from Analysts

Shares of Landstar System, Inc. (NASDAQ:LSTR) have been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $196.00.

A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Stephens raised shares of Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. UBS Group reiterated a “neutral” rating and set a $195.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th.

Landstar System Trading Up 3.3%

NASDAQ:LSTR opened at $182.99 on Monday. Landstar System has a one year low of $119.32 and a one year high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market cap of $6.21 billion, a P/E ratio of 47.41 and a beta of 0.90. The firm has a 50-day simple moving average of $205.25 and a 200-day simple moving average of $178.95.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. Landstar System’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. Equities analysts anticipate that Landstar System will post 5.8 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is currently 41.45%.

Landstar System announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction 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 transaction, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by company insiders.

Institutional Trading of Landstar System

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in shares of Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after buying an additional 336 shares during the period. Goldman Sachs Group Inc. raised its stake in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC lifted its position in Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after acquiring an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 142 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.