Morgan Stanley Boosts Landstar System (LSTR) Price Target to $96.00

Landstar System (NASDAQ:LSTR) had its price target increased by Morgan Stanley from $94.00 to $96.00 in a report released on Friday. They currently have an underweight rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Landstar System from a buy rating to a hold rating in a research note on Friday, January 12th. Robert W. Baird reissued a hold rating and set a $105.00 price objective on shares of Landstar System in a research note on Tuesday, January 9th. Buckingham Research boosted their price objective on Landstar System from $114.00 to $126.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. BidaskClub cut Landstar System from a strong-buy rating to a buy rating in a research note on Wednesday, January 3rd. Finally, Cleveland Research raised Landstar System from a neutral rating to a buy rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $108.08.

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Shares of NASDAQ LSTR opened at $105.30 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. Landstar System has a 1-year low of $80.00 and a 1-year high of $118.60. The company has a market cap of $4,421.70, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.43 and a beta of 0.79.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. analysts predict that Landstar System will post 5.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Monday, February 19th were paid a dividend of $0.15 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Landstar System’s dividend payout ratio is currently 16.00%.

Landstar System declared that its board has approved a share repurchase plan on Wednesday, December 13th that allows the company to buyback 1,960,000 outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in shares of Landstar System during the fourth quarter valued at approximately $348,000. Disciplined Growth Investors Inc. MN grew its stake in shares of Landstar System by 0.8% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 946,883 shares of the transportation company’s stock valued at $98,571,000 after buying an additional 7,589 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Landstar System during the fourth quarter valued at approximately $2,761,000. Gotham Asset Management LLC grew its stake in shares of Landstar System by 904.0% during the fourth quarter. Gotham Asset Management LLC now owns 78,301 shares of the transportation company’s stock valued at $8,151,000 after buying an additional 70,502 shares during the last quarter. Finally, BB&T Securities LLC grew its stake in shares of Landstar System by 5.0% during the fourth quarter. BB&T Securities LLC now owns 17,567 shares of the transportation company’s stock valued at $1,828,000 after buying an additional 832 shares during the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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