Zacks Investment Research Upgrades Landstar System Inc. (LSTR) to “Hold”
Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America. “
Several other analysts have also issued reports on the stock. Oppenheimer Holdings Inc. lowered shares of Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Citigroup Inc. lowered shares of Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus price target of $62.66.
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Shares of Landstar System (NASDAQ:LSTR) traded down 0.27% on Tuesday, reaching $67.24. 469,345 shares of the company traded hands. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 20.78 and a beta of 0.80. Landstar System has a 1-year low of $53.03 and a 1-year high of $72.97. The company has a 50-day moving average of $67.85 and a 200-day moving average of $67.39.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.05. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. The firm earned $775 million during the quarter, compared to analysts’ expectations of $790.95 million. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. Analysts anticipate that Landstar System will post $3.08 earnings per share for the current fiscal year.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the completion of the transaction, the chief marketing officer now owns 40,237 shares in the company, valued at approximately $2,783,193.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in LSTR. Atlanta Capital Management Co. L L C increased its position in Landstar System by 21.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,623,600 shares of the company’s stock valued at $169,511,000 after buying an additional 456,602 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Landstar System by 17.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,608,687 shares of the company’s stock valued at $110,452,000 after buying an additional 244,393 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Landstar System by 84.9% in the first quarter. UBS Asset Management Americas Inc. now owns 515,305 shares of the company’s stock valued at $33,294,000 after buying an additional 236,652 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Landstar System by 30.2% in the first quarter. JPMorgan Chase & Co. now owns 966,763 shares of the company’s stock valued at $62,463,000 after buying an additional 224,149 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Landstar System by 2.6% in the first quarter. Wellington Management Group LLP now owns 3,602,864 shares of the company’s stock valued at $232,781,000 after buying an additional 91,503 shares in the last quarter.
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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