Landstar System (LSTR) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $119.00 target price on the transportation company’s stock.
According to Zacks, “Landstar System, Inc. ( LSTR ) is an asset-light provider of integrated transportation management solutions worldwide. The company delivers safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity owners and employees. Landstar System transports a variety of freight, including iron and steel, automotive products, paper, lumber, chemicals, foodstuffs, and military hardware. All Landstar transportation services companies are certified to ISO 9001:2008 quality management system standards and RC14001:2013 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. “
A number of other research firms have also weighed in on LSTR. Robert W. Baird restated a hold rating and set a $105.00 target price on shares of Landstar System in a report on Tuesday, January 9th. Susquehanna Bancshares upgraded Landstar System from a neutral rating to a positive rating and upped their target price for the stock from $109.00 to $124.00 in a report on Monday, January 8th. BidaskClub lowered Landstar System from a strong-buy rating to a buy rating in a report on Wednesday, January 3rd. Morgan Stanley upped their target price on Landstar System from $68.00 to $73.00 and gave the stock an underweight rating in a report on Thursday, October 5th. Finally, Buckingham Research upped their target price on Landstar System from $103.00 to $106.00 and gave the stock a neutral rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Landstar System currently has a consensus rating of Hold and a consensus price target of $101.17.
Shares of Landstar System (NASDAQ LSTR) traded up $0.55 during midday trading on Wednesday, hitting $108.45. The company had a trading volume of 181,344 shares, compared to its average volume of 234,384. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4,550.00, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.89 and a beta of 0.81. Landstar System has a 12-month low of $80.00 and a 12-month high of $108.55.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The firm had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. Landstar System’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. equities research analysts anticipate that Landstar System will post 3.69 earnings per share for the current year.
Landstar System announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 13th that allows the company to buyback 1,960,000 shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a special dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a dividend of $1.50 per share. This represents a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Landstar System’s previous special dividend of $1.00. Landstar System’s dividend payout ratio is currently 11.05%.
In other news, VP Michael K. Kneller sold 10,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the vice president now owns 22,153 shares in the company, valued at approximately $2,193,147. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dr. Homaira Akbari sold 1,000 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the sale, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,805 shares of company stock valued at $4,028,128. Company insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Schwab Charles Investment Management Inc. increased its position in shares of Landstar System by 7.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 267,117 shares of the transportation company’s stock valued at $22,866,000 after acquiring an additional 18,500 shares during the period. Legal & General Group Plc increased its position in shares of Landstar System by 15.0% in the 2nd quarter. Legal & General Group Plc now owns 46,732 shares of the transportation company’s stock valued at $4,000,000 after acquiring an additional 6,110 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Landstar System by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after acquiring an additional 224 shares during the period. Principal Financial Group Inc. increased its position in shares of Landstar System by 4.7% in the 2nd quarter. Principal Financial Group Inc. now owns 181,204 shares of the transportation company’s stock valued at $15,511,000 after acquiring an additional 8,131 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Landstar System by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after acquiring an additional 17 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
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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