Landstar System (LSTR) Stock Rating Reaffirmed by Robert W. Baird
Landstar System (NASDAQ:LSTR)‘s stock had its “hold” rating reissued by Robert W. Baird in a research note issued on Tuesday. They currently have a $105.00 price target on the transportation company’s stock. Robert W. Baird’s target price indicates a potential downside of 2.69% from the stock’s previous close.
Several other brokerages also recently weighed in on LSTR. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Tuesday, January 2nd. BidaskClub downgraded Landstar System from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 3rd. KeyCorp restated a “buy” rating and set a $110.00 target price on shares of Landstar System in a research note on Tuesday, October 3rd. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price on shares of Landstar System in a research note on Tuesday, September 12th. Finally, Cowen restated a “hold” rating and set a $97.00 target price on shares of Landstar System in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Landstar System currently has a consensus rating of “Hold” and a consensus target price of $101.17.
Landstar System (NASDAQ:LSTR) traded up $1.70 on Tuesday, hitting $107.90. The stock had a trading volume of 338,728 shares, compared to its average volume of 271,891. The company has a market cap of $4,450.00, a P/E ratio of 29.81, a PEG ratio of 1.85 and a beta of 0.81. Landstar System has a 52 week low of $80.00 and a 52 week high of $108.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96.
Landstar System declared that its board has approved a stock repurchase plan on Wednesday, December 13th that permits the company to repurchase 1,960,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Landstar System news, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the transaction, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joseph J. Beacom sold 9,805 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.32, for a total value of $964,027.60. Following the completion of the transaction, the chief operating officer now directly owns 55,649 shares of the company’s stock, valued at approximately $5,471,409.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,805 shares of company stock valued at $4,028,128. Insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Southport Management L.L.C. acquired a new position in Landstar System in the 3rd quarter valued at approximately $498,000. Cubist Systematic Strategies LLC raised its holdings in shares of Landstar System by 109.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock worth $370,000 after buying an additional 2,259 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Landstar System by 11.7% in the 3rd quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock worth $5,202,000 after buying an additional 5,468 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Landstar System by 3.3% in the 3rd quarter. Stifel Financial Corp now owns 56,992 shares of the transportation company’s stock worth $5,676,000 after buying an additional 1,833 shares in the last quarter. Finally, Clinton Group Inc. acquired a new position in shares of Landstar System in the 2nd quarter worth approximately $787,000. 97.93% of the stock is owned by hedge funds and other institutional investors.
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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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