TD Cowen Raises Landstar System (NASDAQ:LSTR) Price Target to $150.00

Landstar System (NASDAQ:LSTR) had its target price lifted by research analysts at TD Cowen from $138.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target suggests a potential downside of 3.66% from the stock’s previous close.

LSTR has been the subject of a number of other reports. Evercore ISI lowered their target price on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Landstar System in a research note on Monday, December 29th. Barclays dropped their price objective on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Robert W. Baird set a $159.00 target price on shares of Landstar System in a report on Wednesday. Finally, UBS Group lowered their price target on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $144.17.

Landstar System Stock Up 2.1%

LSTR opened at $155.70 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 39.72 and a beta of 0.84. The firm has a 50-day simple moving average of $136.83 and a two-hundred day simple moving average of $133.62. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Landstar System has a 52 week low of $119.32 and a 52 week high of $179.74.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Landstar System’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Landstar System

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Landstar System by 16.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,609 shares of the transportation company’s stock valued at $527,000 after purchasing an additional 510 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Landstar System by 41.2% during the second quarter. Harbor Capital Advisors Inc. now owns 45,346 shares of the transportation company’s stock worth $6,304,000 after buying an additional 13,229 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in Landstar System during the second quarter worth $2,339,000. Perigon Wealth Management LLC bought a new stake in Landstar System during the 2nd quarter valued at $357,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Landstar System by 8.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,232 shares of the transportation company’s stock valued at $5,176,000 after acquiring an additional 2,758 shares during the period. 97.95% of the stock is owned by institutional investors.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.