Landstar System (NASDAQ:LSTR) Upgraded at Stephens

Key Points

• Stephens upgraded Landstar System to a “strong-buy” rating, adding to a mix of analyst views that still leaves the stock with an overall consensus rating of “Hold” and an average target price of $189.09.
• Landstar reported better-than-expected quarterly results, posting $1.16 EPS versus $1.11 expected and revenue of $1.17 billion, while revenue rose 1.6% year over year.
• The company also authorized a share buyback program covering up to 3.3% of outstanding stock, while recent insider sales by a director and the CFO trimmed their holdings.

Landstar System (NASDAQ:LSTR - Get Free Report) was upgraded by equities researchers at Stephens to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on LSTR. Robert W. Baird lifted their price objective on Landstar System from $195.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, June 17th. Susquehanna increased their target price on shares of Landstar System from $185.00 to $195.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of Landstar System from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, June 5th. Morgan Stanley reaffirmed an "underweight" rating and set a $145.00 price target on shares of Landstar System in a report on Monday. Finally, Stifel Nicolaus upped their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Landstar System has an average rating of "Hold" and a consensus target price of $189.09.

Landstar System Trading Down 0.1%

Shares of Landstar System stock opened at $203.71 on Wednesday. The company's fifty day simple moving average is $200.89 and its 200-day simple moving average is $171.36. The stock has a market capitalization of $6.91 billion, a PE ratio of 56.27 and a beta of 0.89. Landstar System has a 1-year low of $119.32 and a 1-year high of $228.46. 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 (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $0.95 EPS. Landstar System's revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Landstar System will post 5.66 earnings per share for the current year.

Landstar System declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp raised its stake 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 valued at $904,495,000 after purchasing an additional 6,290,171 shares in the last quarter. Boston Partners increased its holdings in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company's stock worth $216,242,000 after buying an additional 341,808 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company's stock worth $179,315,000 after buying an additional 179,294 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company's stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company's stock valued at $91,492,000 after buying an additional 21,163 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Company Profile

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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