Robert W. Baird Forecasts Strong Price Appreciation for Landstar System (NASDAQ:LSTR) Stock

Key Points

• Robert W. Baird raised its price target on Landstar System from $195 to $225 and kept an outperform rating, implying modest upside from the current share price.
• Other analysts have also become more constructive, with several firms lifting targets even as the overall consensus remains Hold and the average price target sits at $185.91.
• Landstar recently beat quarterly earnings and revenue estimates, while its board also approved a share repurchase program covering up to 3.3% of outstanding shares, signaling confidence in the stock.

Landstar System (NASDAQ:LSTR - Get Free Report) had its target price upped by research analysts at Robert W. Baird from $195.00 to $225.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the transportation company's stock. Robert W. Baird's price objective suggests a potential upside of 4.09% from the stock's current price.

Other analysts have also recently issued reports about the company. Truist Financial upped their price target on Landstar System from $145.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. UBS Group upped their price target on Landstar System from $147.00 to $185.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Landstar System from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Landstar System from $161.00 to $179.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, Susquehanna upped their price target on Landstar System from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $185.91.

Landstar System Trading Down 1.4%

NASDAQ:LSTR opened at $216.15 on Wednesday. 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 fifty-two week low of $119.32 and a fifty-two week high of $228.46. The stock's 50-day moving average is $189.82 and its two-hundred day moving average is $163.95. The stock has a market cap of $7.33 billion, a PE ratio of 59.71 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, equities research analysts forecast that Landstar System will post 5.57 earnings per share for the current fiscal year.

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

Insider Transactions at Landstar System

In related news, Director Diana M. Murphy sold 11,246 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the company's stock in a transaction dated 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 sale, the chief financial officer owned 15,122 shares of the company's stock, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Landstar System

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC increased its holdings in Landstar System by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company's stock valued at $566,000 after purchasing an additional 336 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock valued at $20,729,000 after purchasing an additional 50,142 shares during the last quarter. Empowered Funds LLC increased its holdings in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock valued at $704,000 after purchasing an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock valued at $21,380,000 after purchasing an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after acquiring an additional 142 shares in the last quarter. 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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