Landstar System (NASDAQ:LSTR) Price Target Raised to $230.00

Landstar System (NASDAQ:LSTR) had its price target increased by analysts at Susquehanna from $195.00 to $230.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective suggests a potential upside of 8.05% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Stephens raised shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley reiterated an “underweight” rating and set a $145.00 target price on shares of Landstar System in a report on Monday, July 6th. Truist Financial lifted their price target on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus price target of $193.27.

Landstar System Trading Up 1.7%

NASDAQ LSTR opened at $212.87 on Tuesday. Landstar System has a one year low of $119.32 and a one year high of $228.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $7.22 billion, a P/E ratio of 58.80 and a beta of 0.89. The stock’s 50-day moving average is $202.47 and its 200-day moving average is $172.74.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $0.95 EPS. Landstar System’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Landstar System will post 5.66 earnings per share for the current fiscal year.

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

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Landstar System

Institutional investors and hedge funds have recently bought and sold shares of the business. Fulton Bank N.A. lifted its position in shares of Landstar System by 8.0% in the second quarter. Fulton Bank N.A. now owns 2,620 shares of the transportation company’s stock valued at $542,000 after buying an additional 194 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after acquiring an additional 66 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Landstar System in the 2nd quarter valued at $6,064,000. GAMMA Investing LLC lifted its holdings in Landstar System by 31.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,757 shares of the transportation company’s stock valued at $570,000 after purchasing an additional 667 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Landstar System by 130.5% during the 2nd quarter. Versant Capital Management Inc now owns 839 shares of the transportation company’s stock valued at $174,000 after purchasing an additional 475 shares during the last quarter. Institutional investors 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.