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

Landstar System (NASDAQ:LSTR) had its price target upped by investment analysts at Truist Financial from $190.00 to $205.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Truist Financial’s price objective would indicate a potential downside of 3.03% from the stock’s previous close.

Several other research firms also recently issued reports on LSTR. Stifel Nicolaus upped their target price on Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a research report on Monday. UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Wells Fargo & Company lifted their target price on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $194.64.

Landstar System Stock Down 0.7%

Landstar System stock opened at $211.41 on Wednesday. Landstar System has a 1-year low of $119.32 and a 1-year high of $228.46. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.40 and a beta of 0.89. 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 business has a fifty day moving average price of $203.09 and a 200-day moving average price of $173.45.

Landstar System (NASDAQ:LSTR) last posted 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. The firm 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%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities research analysts forecast that Landstar System will post 5.72 EPS for the current fiscal year.

Landstar System announced that its board has approved a share buyback program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Landstar System

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

Institutional Trading of Landstar System

Several institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp increased its position in shares of Landstar System by 151,424.4% in the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after acquiring an additional 6,290,171 shares in the last quarter. Boston Partners raised its stake in Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after purchasing an additional 341,808 shares during the period. First Trust Advisors LP boosted its position in shares of Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after buying an additional 179,294 shares during the period. AQR Capital Management LLC grew its holdings in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Landstar System by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after buying an additional 21,163 shares during the period. Institutional investors and hedge funds 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.