Landstar System (NASDAQ:LSTR) Given New $186.00 Price Target at Stifel Nicolaus

Landstar System (NASDAQ:LSTR) had its price target increased by equities research analysts at Stifel Nicolaus from $175.00 to $186.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price target suggests a potential downside of 11.14% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Susquehanna boosted their price target on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings raised Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Truist Financial increased their price target on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Barclays raised their price target on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average target price of $190.09.

Landstar System Stock Performance

Landstar System stock opened at $209.32 on Monday. The stock has a 50-day moving average of $201.89 and a two-hundred day moving average of $172.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. Landstar System has a one year low of $119.32 and a one year high of $228.46. The stock has a market cap of $7.10 billion, a PE ratio of 57.82 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $0.95 EPS. Landstar System’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts anticipate that Landstar System will post 5.66 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, 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 transaction of $261,804.00. Following the completion of the transaction, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. The SEC filing for this sale provides additional information. 0.74% of the stock is owned by company insiders.

Institutional Trading of Landstar System

Hedge funds have recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after buying an additional 66 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after buying an additional 68 shares in the last quarter. Petros Family Wealth LLC raised its holdings in shares of Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 78 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in shares of Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.