Robert W. Baird Cuts Landstar System (NASDAQ:LSTR) Price Target to $215.00

Landstar System (NASDAQ:LSTR) had its price objective trimmed by Robert W. Baird from $225.00 to $215.00 in a research report released on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the transportation company’s stock.

Several other equities analysts also recently commented on the stock. Morgan Stanley reissued an “underweight” rating and issued a $145.00 price objective on shares of Landstar System in a research note on Monday, July 6th. UBS Group boosted their target price on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. The Goldman Sachs Group increased their price target on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research note on Thursday, July 16th. Finally, Truist Financial raised their price objective on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $194.62.

Landstar System Stock Performance

Landstar System stock opened at $174.77 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.93 billion, a PE ratio of 45.28 and a beta of 0.89. Landstar System has a 12-month low of $119.32 and a 12-month high of $228.46. The business’s 50-day moving average price is $207.44 and its two-hundred day moving average price is $178.08.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company posted $1.20 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts expect that Landstar System will post 5.8 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is currently 45.60%.

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

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Landstar System

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in Landstar System during the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Landstar System in the 3rd quarter valued at $25,000. Global Retirement Partners LLC boosted its stake in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after buying an additional 298 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

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.