The company is a provider of freight transportation services and supply chain solutions.
The firm said the upgrade was the result of "improving truck transportation pricing and load trends, SG&A operating leverage, improving manufacturing demand and an under-levered balance sheet that will likely fund a significant step-up in share repurchases."
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TheStreet Ratings team rates LANDSTAR SYSTEM INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LANDSTAR SYSTEM INC (LSTR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins."