Zacks Investment Research Upgrades Landstar System, Inc. (NASDAQ:LSTR) to “Buy”
Landstar System, Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $98.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.73% from the stock’s previous close.
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. “
LSTR has been the topic of a number of other research reports. Stifel Nicolaus boosted their target price on Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. BidaskClub downgraded Landstar System from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company upped their price objective on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.50.
Landstar System (LSTR) traded up 1.32% during mid-day trading on Thursday, hitting $88.50. The stock had a trading volume of 181,275 shares. The stock has a market cap of $3.71 billion, a PE ratio of 26.57 and a beta of 0.76. The firm’s 50-day moving average price is $84.45 and its 200-day moving average price is $85.21. Landstar System has a 1-year low of $65.05 and a 1-year high of $90.80.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, April 26th. The transportation company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Landstar System had a return on equity of 26.51% and a net margin of 4.34%. The firm had revenue of $780.90 million for the quarter, compared to the consensus estimate of $757.56 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Landstar System will post $3.54 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of the stock. USA Financial Portformulas Corp increased its position in Landstar System by 20.2% in the fourth quarter. USA Financial Portformulas Corp now owns 18,576 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 3,117 shares during the last quarter. Norges Bank purchased a new position in Landstar System during the fourth quarter valued at approximately $41,109,000. Numeric Investors LLC increased its position in Landstar System by 39.6% in the fourth quarter. Numeric Investors LLC now owns 12,700 shares of the transportation company’s stock valued at $1,083,000 after buying an additional 3,600 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Landstar System by 8.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,170 shares of the transportation company’s stock valued at $612,000 after buying an additional 570 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Landstar System by 22.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,579 shares of the transportation company’s stock valued at $206,000 after buying an additional 475 shares during the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.
Landstar System Company Profile
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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