Landstar System (LSTR) Rating Reiterated by Cowen
Cowen reissued their market perform rating on shares of Landstar System (NASDAQ:LSTR) in a research note issued to investors on Thursday morning, MarketBeat reports. Cowen currently has a $115.00 target price on the transportation company’s stock, up from their prior target price of $97.00.
Several other equities analysts have also commented on the stock. Cleveland Research raised shares of Landstar System from a neutral rating to a buy rating in a report on Friday, January 26th. Zacks Investment Research upgraded shares of Landstar System from a hold rating to a buy rating and set a $121.00 price target on the stock in a research note on Tuesday, January 16th. Robert W. Baird restated a hold rating and issued a $105.00 price target on shares of Landstar System in a research note on Tuesday, January 9th. Susquehanna Bancshares upgraded shares of Landstar System from a neutral rating to a positive rating and raised their price target for the company from $109.00 to $124.00 in a research note on Monday, January 8th. Finally, BidaskClub downgraded shares of Landstar System from a strong-buy rating to a buy rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Landstar System presently has an average rating of Hold and an average price target of $105.75.
Landstar System (NASDAQ LSTR) traded down $0.75 during mid-day trading on Thursday, reaching $114.70. 67,725 shares of the company’s stock traded hands, compared to its average volume of 259,448. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. Landstar System has a 52-week low of $80.00 and a 52-week high of $118.60. The company has a market cap of $4,660.30 and a price-to-earnings ratio of 27.21.
Landstar System announced that its board has authorized a share repurchase plan on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, February 19th will be paid a $0.15 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, February 15th. Landstar System’s dividend payout ratio (DPR) is presently 9.50%.
In related news, COO Joseph J. Beacom sold 9,805 shares of Landstar System stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.32, for a total transaction of $964,027.60. Following the sale, the chief operating officer now directly owns 55,649 shares in the company, valued at approximately $5,471,409.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the sale, the director now owns 6,656 shares in the company, valued at $654,284.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,805 shares of company stock worth $1,557,328. 1.00% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Southport Management L.L.C. acquired a new stake in Landstar System during the 3rd quarter worth approximately $498,000. Legal & General Group Plc raised its holdings 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 during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Landstar System by 109.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock worth $370,000 after purchasing an additional 2,259 shares during the last quarter. Stifel Financial Corp raised its holdings in Landstar System by 3.3% during the 3rd quarter. Stifel Financial Corp now owns 56,992 shares of the transportation company’s stock worth $5,676,000 after purchasing an additional 1,833 shares during the last quarter. Finally, Clinton Group Inc. bought a new position in Landstar System during the 2nd quarter worth approximately $787,000. Institutional investors and hedge funds own 97.96% of the company’s stock.
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Landstar System Company Profile
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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