Landstar System (NASDAQ:LSTR) was upgraded by stock analysts at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research note issued on Monday, January 8th, Marketbeat reports. The firm presently has a $124.00 price objective on the transportation company’s stock, up from their prior price objective of $109.00. Susquehanna Bancshares’ target price points to a potential upside of 11.46% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. KeyCorp reaffirmed a “buy” rating and set a $110.00 price objective on shares of Landstar System in a report on Tuesday, October 3rd. BidaskClub downgraded Landstar System from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd. Cowen reaffirmed a “hold” rating and set a $97.00 price objective on shares of Landstar System in a report on Friday, October 27th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, Morgan Stanley lifted their price objective on Landstar System from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $101.33.
Landstar System (NASDAQ:LSTR) opened at $111.25 on Monday. Landstar System has a 12 month low of $80.00 and a 12 month high of $111.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $4,641.42, a PE ratio of 30.82, a P/E/G ratio of 1.82 and a beta of 0.81.
Landstar System declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 13th that allows the company to repurchase 1,960,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Landstar System news, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the transaction, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the transaction, the vice president now directly owns 22,153 shares in the company, valued at approximately $2,193,147. The disclosure for this sale can be found here. Insiders sold a total of 40,805 shares of company stock worth $4,028,128 over the last three months. 1.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in shares of Landstar System during the 3rd quarter valued at $86,725,000. Janus Henderson Group PLC bought a new stake in shares of Landstar System during the 2nd quarter valued at $57,249,000. FMR LLC raised its position in shares of Landstar System by 64.7% during the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after acquiring an additional 475,220 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Landstar System during the 2nd quarter valued at $339,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Landstar System during the 3rd quarter valued at $22,780,000. 97.98% of the stock is currently owned by hedge funds and other institutional investors.
About Landstar System
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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