Susquehanna Forecasts Strong Price Appreciation for Landstar System (NASDAQ:LSTR) Stock

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

Several other research firms have also issued reports on LSTR. JPMorgan Chase & Co. increased their target price on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Truist Financial boosted their price objective on shares of Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Robert W. Baird lifted their target price on Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company lifted their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.27.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $212.87 on Tuesday. 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 price-to-earnings ratio of 58.80 and a beta of 0.89. The stock’s fifty day moving average price is $202.47 and its two-hundred day moving average price is $172.74. Landstar System has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. Landstar System’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 earnings per share. On average, equities analysts forecast that Landstar System will post 5.66 EPS for the current year.

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

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System during the fourth quarter valued at about $25,000. Global Retirement Partners LLC increased its holdings in shares of Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Quarry LP acquired a new position in shares of Landstar System during the third quarter worth approximately $25,000. Elevation Wealth Partners LLC lifted its holdings in shares of Landstar System by 41.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds 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.