Landstar System (NASDAQ:LSTR) Sets New 1-Year High - Here's Why

Key Points

• Landstar's stock reached a new 52-week high, trading as high as $170.02 mid-day and last at $167.95 on a volume of 29,241 shares.
• Analysts' consensus is a Hold with an average price target of $153 (one Strong Buy, one Buy, thirteen Hold), though several firms recently raised price targets.
• Key fundamentals: market cap $5.68B, P/E 50.54, debt-to-equity 0.06, quarterly dividend $0.40 (1.0% yield), and about 97.95% of shares held by institutional investors.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $170.02 and last traded at $167.95, with a volume of 29241 shares trading hands. The stock had previously closed at $165.28.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of research reports. Susquehanna raised their price objective on Landstar System from $110.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, January 8th. TD Cowen reaffirmed a "hold" rating on shares of Landstar System in a research report on Friday, January 9th. Zacks Research upgraded Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday, December 8th. Stifel Nicolaus raised their price objective on shares of Landstar System from $145.00 to $147.00 and gave the company a "hold" rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded Landstar System from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $153.00.

Landstar System Price Performance

The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 50.54 and a beta of 0.80. The stock has a 50-day simple moving average of $154.14 and a 200 day simple moving average of $141.99.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 18th. Landstar System's dividend payout ratio is presently 48.34%.

Institutional Trading of Landstar System

Large investors have recently added to or reduced their stakes in the business. Peterson Wealth Services grew its position in Landstar System by 1,108.4% in the third quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company's stock worth $1,343,000 after acquiring an additional 10,053 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Landstar System by 69.8% in the third quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company's stock valued at $11,626,000 after purchasing an additional 38,992 shares during the last quarter. Ballast Asset Management LP boosted its position in shares of Landstar System by 28.2% in the third quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company's stock valued at $4,238,000 after acquiring an additional 7,614 shares during the period. Retirement Systems of Alabama raised its position in shares of Landstar System by 48.2% during the third quarter. Retirement Systems of Alabama now owns 63,299 shares of the transportation company's stock valued at $7,758,000 after buying an additional 20,586 shares during the last quarter. Finally, Fenimore Asset Management Inc raised its position in shares of Landstar System by 231.3% during the third quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company's stock valued at $41,809,000 after buying an additional 238,173 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

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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