Landstar System (NASDAQ:LSTR) Lifted to Buy at Zacks Investment Research

Landstar System (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 16th. The brokerage presently has a $121.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.76% from the company’s current price.

According to Zacks, “Landstar System, Inc. ( LSTR ) is an asset-light provider of integrated transportation management solutions worldwide. The company delivers safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity owners and employees. Landstar System transports a variety of freight, including iron and steel, automotive products, paper, lumber, chemicals, foodstuffs, and military hardware. All Landstar transportation services companies are certified to ISO 9001:2008 quality management system standards and RC14001:2013 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. “

A number of other brokerages have also recently issued reports on LSTR. Robert W. Baird restated a “hold” rating and set a $105.00 target price on shares of Landstar System in a report on Tuesday, January 9th. Susquehanna Bancshares upgraded Landstar System from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $109.00 to $124.00 in a report on Monday, January 8th. BidaskClub lowered Landstar System from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 3rd. Morgan Stanley lifted their target price on Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Finally, Buckingham Research lifted their target price on Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $101.33.

Shares of Landstar System (NASDAQ LSTR) opened at $111.25 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $4,641.42, a P/E ratio of 30.82, a PEG ratio of 1.82 and a beta of 0.81. Landstar System has a 12-month low of $80.00 and a 12-month high of $111.40.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. sell-side analysts anticipate that Landstar System will post 3.69 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 13th that allows the company to buyback 1,960,000 outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO James B. Gattoni sold 15,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $98.72, for a total value of $1,480,800.00. Following the completion of the sale, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at $6,845,146.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the sale, the vice president now directly owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,805 shares of company stock worth $4,028,128. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. First Manhattan Co. bought a new position in shares of Landstar System in the fourth quarter worth $104,000. Advisor Group Inc. boosted its holdings in shares of Landstar System by 64.8% in the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after acquiring an additional 599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Landstar System by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after acquiring an additional 224 shares during the period. Zions Bancorporation bought a new stake in Landstar System during the third quarter valued at $167,000. Finally, PNC Financial Services Group Inc. boosted its stake in Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after buying an additional 373 shares during the period. 97.98% of the stock is owned by institutional investors and hedge funds.

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Landstar System Company Profile

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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