Landstar System (NASDAQ:LSTR) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.
Several other research firms have also commented on LSTR. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Wednesday, January 10th. KeyCorp reiterated a “buy” rating and set a $125.00 price target on shares of Landstar System in a report on Friday, February 2nd. Susquehanna Bancshares upgraded Landstar System from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $109.00 to $124.00 in a report on Monday, January 8th. Cowen reiterated a “market perform” rating and set a $115.00 price target (up previously from $97.00) on shares of Landstar System in a report on Thursday, February 1st. Finally, Morgan Stanley lifted their price target on Landstar System from $75.00 to $94.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Landstar System presently has a consensus rating of “Buy” and a consensus price target of $107.50.
Shares of Landstar System (NASDAQ:LSTR) traded down $0.95 during mid-day trading on Wednesday, reaching $110.75. The company’s stock had a trading volume of 50,643 shares, compared to its average volume of 259,679. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4,688.34, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.61 and a beta of 0.80. Landstar System has a 12 month low of $80.00 and a 12 month high of $118.60.
Landstar System announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 outstanding shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Landstar System by 62.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,414,500 shares of the transportation company’s stock valued at $147,249,000 after buying an additional 544,200 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Landstar System by 8.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,172,077 shares of the transportation company’s stock valued at $116,798,000 after buying an additional 90,630 shares during the period. Disciplined Growth Investors Inc. MN grew its position in Landstar System by 0.8% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 946,883 shares of the transportation company’s stock valued at $98,571,000 after acquiring an additional 7,589 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new position in Landstar System in the 4th quarter valued at about $60,792,000. Finally, Bank of New York Mellon Corp grew its position in Landstar System by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 562,886 shares of the transportation company’s stock valued at $56,092,000 after acquiring an additional 11,651 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.
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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