Landstar System (NASDAQ:LSTR) had its price target hoisted by Morgan Stanley from $75.00 to $94.00 in a research note released on Monday. The brokerage currently has an underweight rating on the transportation company’s stock.
Several other research analysts have also recently issued reports on LSTR. Zacks Investment Research raised Landstar System from a hold rating to a buy rating and set a $119.00 price target on the stock in a report on Wednesday, January 10th. KeyCorp reaffirmed a buy rating and issued a $125.00 price target on shares of Landstar System in a report on Friday, February 2nd. Susquehanna Bancshares raised Landstar System from a neutral rating to a positive rating and upped their price target for the company from $109.00 to $124.00 in a report on Monday, January 8th. Cowen reaffirmed a market perform rating and issued a $115.00 price target (up previously from $97.00) on shares of Landstar System in a report on Thursday, February 1st. Finally, BidaskClub cut Landstar System from a strong-buy rating to a buy rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $107.50.
Landstar System (NASDAQ:LSTR) opened at $108.80 on Monday. The stock has a market capitalization of $4,570.00, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.64 and a beta of 0.81. Landstar System has a twelve month low of $80.00 and a twelve month high of $118.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.75 and a quick ratio of 1.96.
Landstar System declared that its board has authorized a stock repurchase program on Wednesday, December 13th that permits the company to buyback 1,960,000 outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Monday, February 19th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. This is a boost from Landstar System’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, February 15th. Landstar System’s payout ratio is presently 16.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its position in Landstar System by 6.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 295,684 shares of the transportation company’s stock worth $30,781,000 after purchasing an additional 17,340 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its position in Landstar System by 64.5% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 246,964 shares of the transportation company’s stock worth $25,708,000 after purchasing an additional 96,840 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Landstar System by 55.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 137,225 shares of the transportation company’s stock worth $14,285,000 after purchasing an additional 48,700 shares in the last quarter. Southport Management L.L.C. purchased a new position in Landstar System during the 3rd quarter worth approximately $498,000. Finally, Legal & General Group Plc grew its position in Landstar System by 11.7% during the 3rd quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock worth $5,202,000 after purchasing an additional 5,468 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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