Landstar System (NASDAQ:LSTR) had its target price dropped by stock analysts at Buckingham Research from $127.00 to $121.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s price target would indicate a potential upside of 13.21% from the stock’s previous close.
LSTR has been the subject of several other reports. Wells Fargo & Co raised Landstar System from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $115.65 to $98.00 in a research note on Wednesday, August 22nd. Stifel Nicolaus raised Landstar System from a “hold” rating to a “buy” rating and raised their price objective for the company from $123.00 to $128.00 in a research note on Monday, July 30th. KeyCorp reiterated a “buy” rating and issued a $130.00 price target (up from $125.00) on shares of Landstar System in a report on Thursday, July 26th. BidaskClub downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Finally, Wolfe Research downgraded Landstar System from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $118.42.
NASDAQ:LSTR opened at $106.88 on Friday. The company has a market capitalization of $5.01 billion, a PE ratio of 28.50, a P/E/G ratio of 1.49 and a beta of 0.87. Landstar System has a 1 year low of $94.80 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.82 and a quick ratio of 1.82.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.02). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 5.38% and a return on equity of 31.06%. Landstar System’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. Research analysts expect that Landstar System will post 6.07 EPS for the current fiscal year.
In other news, COO Joseph J. Beacom sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total value of $358,560.00. Following the sale, the chief operating officer now directly owns 33,702 shares in the company, valued at $4,028,063.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in Landstar System during the 3rd quarter worth $28,755,000. Curbstone Financial Management Corp purchased a new position in Landstar System during the 3rd quarter worth $401,000. United Capital Management of KS Inc. purchased a new position in Landstar System during the 3rd quarter worth $221,000. Northern Trust Corp increased its holdings in Landstar System by 10.3% during the 2nd quarter. Northern Trust Corp now owns 410,328 shares of the transportation company’s stock worth $44,807,000 after purchasing an additional 38,271 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Landstar System by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock worth $60,484,000 after purchasing an additional 20,564 shares during the period. Hedge funds and other institutional investors own 97.30% of the company’s stock.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, including third party logistics and less-than-truckload service providers.
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