Truist Financial Increases Landstar System (NASDAQ:LSTR) Price Target to $150.00

Landstar System (NASDAQ:LSTR) had its price objective hoisted by research analysts at Truist Financial from $130.00 to $150.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Truist Financial’s price objective points to a potential downside of 2.31% from the stock’s current price.

A number of other research firms have also weighed in on LSTR. Stifel Nicolaus lifted their price objective on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Wells Fargo & Company upgraded Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $145.00 to $170.00 in a research note on Tuesday, January 6th. Morgan Stanley increased their price objective on Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Finally, Robert W. Baird set a $159.00 target price on Landstar System in a research note on Wednesday, January 7th. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus price target of $153.00.

Landstar System Trading Down 1.6%

Shares of Landstar System stock opened at $153.55 on Thursday. The stock has a market capitalization of $5.27 billion, a P/E ratio of 39.17 and a beta of 0.84. Landstar System has a 52-week low of $119.32 and a 52-week high of $179.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s 50-day simple moving average is $139.49 and its 200 day simple moving average is $134.21.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.Landstar System’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, research analysts anticipate that Landstar System will post 6.1 EPS for the current year.

Institutional Investors Weigh In On Landstar System

Several hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Landstar System in the 3rd quarter worth $25,000. MAI Capital Management grew its position in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Landstar System by 335.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 225 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

About Landstar System

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.