Landstar System (NASDAQ:LSTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, January 3rd.

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. “

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A number of other research firms have also recently issued reports on LSTR. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Morgan Stanley boosted their price objective on shares of Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Buckingham Research boosted their price objective on shares of Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Wells Fargo & Co boosted their price objective on shares of Landstar System from $83.00 to $98.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Finally, Cowen reaffirmed a “hold” rating and set a $97.00 target price on shares of Landstar System in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Landstar System currently has a consensus rating of “Hold” and a consensus price target of $101.33.

Shares of Landstar System (LSTR) opened at $112.25 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The company has a market cap of $4,710.00, a P/E ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 0.81. Landstar System has a fifty-two week low of $80.00 and a fifty-two week high of $113.90.

Landstar System announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 13th that allows the company to repurchase 1,960,000 outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the sale, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James B. Gattoni sold 15,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the completion of the sale, the chief executive officer now directly owns 69,339 shares in the company, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. Insiders sold a total of 30,805 shares of company stock worth $3,038,128 in the last three months. Insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Landstar System by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after purchasing an additional 17 shares during the period. Oppenheimer & Co. Inc. lifted its position in Landstar System by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock valued at $751,000 after purchasing an additional 40 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in Landstar System by 1.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,308 shares of the transportation company’s stock valued at $502,000 after purchasing an additional 109 shares during the period. Raymond James Trust N.A. lifted its position in Landstar System by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 4,648 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 178 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Landstar System by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 224 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

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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.

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