Landstar System, Inc. (LSTR) Given Average Rating of “Hold” by Brokerages
Landstar System, Inc. (NASDAQ:LSTR) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $89.13.
A number of analysts recently commented on the stock. KeyCorp reiterated a “buy” rating and issued a $110.00 target price on shares of Landstar System in a research note on Tuesday. Morgan Stanley boosted their target price on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Stifel Nicolaus upgraded shares of Landstar System from a “hold” rating to a “buy” rating and upped their price target for the company from $87.00 to $95.00 in a research note on Monday, July 31st. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after acquiring an additional 4,035,361 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Landstar System during the second quarter worth $57,249,000. FMR LLC raised its holdings in shares of Landstar System by 64.7% during the second quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after purchasing an additional 475,220 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Landstar System during the second quarter worth $339,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Landstar System by 641.1% during the second quarter. Alliancebernstein L.P. now owns 192,125 shares of the transportation company’s stock worth $16,446,000 after purchasing an additional 166,201 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.
Landstar System (NASDAQ:LSTR) opened at 100.80 on Wednesday. The firm has a 50-day moving average price of $92.03 and a 200-day moving average price of $86.78. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 29.12 and a beta of 0.76. Landstar System has a 12 month low of $65.05 and a 12 month high of $101.15.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business had revenue of $870.34 million during the quarter, compared to the consensus estimate of $859.30 million. During the same quarter last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Landstar System will post $3.59 earnings per share for the current fiscal year.
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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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