Landstar System (NASDAQ:LSTR) Earns Underweight Rating from Morgan Stanley

Landstar System (NASDAQ:LSTR)‘s stock had its “underweight” rating restated by equities research analysts at Morgan Stanley in a research report issued to clients and investors on Monday,Benzinga reports.

Other equities analysts have also recently issued reports about the company. Truist Financial raised their price objective on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Stifel Nicolaus upped their target price on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average price target of $189.09.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $208.21 on Monday. Landstar System has a 52-week low of $119.32 and a 52-week high of $228.46. The firm has a fifty day moving average of $199.44 and a 200 day moving average of $170.12. The firm has a market capitalization of $7.06 billion, a PE ratio of 57.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating 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 analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that Landstar System will post 5.57 EPS for the current fiscal year.

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

Insider Activity

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently modified their holdings of LSTR. First Citizens Bank & Trust Co. increased its holdings in Landstar System by 1.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares during the period. Petros Family Wealth LLC increased its stake in shares of Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after buying an additional 73 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 78 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Landstar System by 1.4% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after acquiring an additional 89 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Landstar System by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock valued at $1,120,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

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.