Zacks Investment Research upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $118.00 price objective on the transportation company’s stock.
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 equities analysts have also recently commented on LSTR. Stifel Nicolaus reaffirmed a buy rating and issued a $95.00 target price on shares of Landstar System in a report on Tuesday, September 12th. KeyCorp reaffirmed a buy rating and issued a $110.00 target price on shares of Landstar System in a report on Tuesday, October 3rd. Morgan Stanley lifted their target price on shares of Landstar System from $68.00 to $73.00 and gave the company an underweight rating in a report on Thursday, October 5th. Robert W. Baird reaffirmed a hold rating and issued a $102.00 target price on shares of Landstar System in a report on Friday, October 6th. Finally, Buckingham Research started coverage on shares of Landstar System in a research note on Friday, October 20th. They issued a neutral rating and a $103.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $98.73.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The business had revenue of $943.40 million for the quarter, compared to analysts’ expectations of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. equities analysts expect that Landstar System will post 3.68 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a $1.50 dividend. This is a boost from Landstar System’s previous special dividend of $1.00. This represents a yield of 0.39%. The ex-dividend date is Thursday, January 11th. Landstar System’s payout ratio is currently 11.08%.
Landstar System declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 13th that permits the company to repurchase 1,960,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, CEO James B. Gattoni sold 15,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the transaction, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the vice president now directly owns 22,153 shares in the company, valued at $2,193,147. The disclosure for this sale can be found here. Insiders sold a total of 40,805 shares of company stock worth $4,028,128 over the last three months. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Advisor Group Inc. grew its stake in shares of Landstar System by 64.8% during the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after purchasing an additional 599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Landstar System by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after purchasing an additional 224 shares during the period. Zions Bancorporation acquired a new position in shares of Landstar System during the 3rd quarter worth $167,000. PNC Financial Services Group Inc. grew its stake in shares of Landstar System by 22.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after purchasing an additional 373 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Landstar System during the 2nd quarter worth $202,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.
WARNING: This piece was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://www.chaffeybreeze.com/2018/01/05/landstar-system-lstr-raised-to-buy-at-zacks-investment-research.html.
About Landstar System
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.