Landstar System (NASDAQ:LSTR) Price Target Raised to $175.00

Landstar System (NASDAQ:LSTR) had its price objective boosted by TD Cowen from $150.00 to $175.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the transportation company’s stock.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company raised Landstar System from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $170.00 in a research report on Tuesday, January 6th. Truist Financial lifted their target price on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays lifted their target price on Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Weiss Ratings lowered Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. Finally, Stifel Nicolaus lifted their target price on Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $178.45.

Landstar System Stock Down 1.4%

Shares of LSTR traded down $2.51 during midday trading on Wednesday, reaching $181.56. 591,785 shares of the stock were exchanged, compared to its average volume of 429,630. Landstar System has a 52 week low of $119.32 and a 52 week high of $195.84. The company has a current ratio of 1.88, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $162.01 and its two-hundred day moving average is $148.18. The company has a market capitalization of $6.17 billion, a P/E ratio of 50.15 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Landstar System will post 5.54 earnings per share for the current year.

Landstar System announced that its board has approved a share repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Institutional Investors Weigh In On Landstar System

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in Landstar System in the fourth quarter valued at about $25,000. Quarry LP purchased a new stake in Landstar System in the third quarter valued at about $25,000. Global Retirement Partners LLC raised its stake in Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares during the last quarter. UMB Bank n.a. raised its stake in Landstar System by 335.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

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.