Landstar System (NASDAQ:LSTR) Given New $168.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised its price target on Landstar System to $168 from $147, but kept a sell rating on the stock. The new target still implies about 20.7% downside from the previous close.
• Landstar shares rose 1.9% to $211.80 on Thursday, remaining well above Goldman’s target. The stock has traded between $119.32 and $228.46 over the past 12 months.
• The company recently beat quarterly earnings and revenue estimates, and its board approved a stock buyback program covering up to 3.3% of shares. However, recent insider sales and mixed analyst sentiment suggest Wall Street remains cautious.

Landstar System (NASDAQ:LSTR - Get Free Report) had its price objective upped by research analysts at The Goldman Sachs Group from $147.00 to $168.00 in a report released on Thursday,Benzinga reports. The firm currently has a "sell" rating on the transportation company's stock. The Goldman Sachs Group's price target suggests a potential downside of 20.68% from the stock's previous close.

LSTR has been the topic of several other reports. Robert W. Baird boosted their price target on shares of Landstar System from $195.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, June 17th. Stifel Nicolaus lifted their target price on shares of Landstar System from $175.00 to $186.00 and gave the stock a "hold" rating in a research report on Monday. UBS Group boosted their target price on Landstar System from $147.00 to $185.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Stephens raised Landstar System to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company increased their price target on Landstar System from $200.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Landstar System currently has an average rating of "Hold" and an average target price of $192.42.

Landstar System Stock Up 1.9%

Shares of LSTR stock traded up $3.99 during trading hours on Thursday, reaching $211.80. The company had a trading volume of 140,155 shares, compared to its average volume of 517,386. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 58.28 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. Landstar System has a 12 month low of $119.32 and a 12 month high of $228.46. The business has a fifty day simple moving average of $203.62 and a 200-day simple moving average of $174.14.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. On average, research analysts expect that Landstar System will post 5.72 earnings per share for the current fiscal year.

Landstar System announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the sale, the director owned 18,853 shares of the company's stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Landstar System

Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its position in Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company's stock worth $904,495,000 after purchasing an additional 6,290,171 shares during the period. AQR Capital Management LLC raised its position in shares of Landstar System by 185.5% in the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company's stock valued at $141,844,000 after purchasing an additional 641,319 shares during the period. Millennium Management LLC lifted its stake in shares of Landstar System by 910.2% during the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company's stock valued at $77,868,000 after buying an additional 488,238 shares in the last quarter. Bank of Montreal Can boosted its holdings in Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company's stock worth $55,577,000 after buying an additional 380,024 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company's stock worth $105,877,000 after buying an additional 370,253 shares during the period. Hedge funds and other institutional investors 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.

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