Landstar System, Inc. (NASDAQ:LSTR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, June 27th.
Several other research analysts have also recently issued reports on LSTR. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Credit Suisse Group reissued a “neutral” rating and issued a $83.00 price target (up previously from $82.00) on shares of Landstar System in a research note on Monday, March 6th. Cowen and Company increased their price target on Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus increased their price target on Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $85.50.
Landstar System (LSTR) opened at 87.90 on Tuesday. Landstar System has a 52-week low of $65.05 and a 52-week high of $90.80. The company has a 50-day moving average of $84.45 and a 200-day moving average of $85.21. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 26.39 and a beta of 0.75.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, April 26th. The transportation company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $757.56 million. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts expect that Landstar System will post $3.55 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in 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 buying an additional 4,035,361 shares during the period. Vanguard Group Inc. raised its position in Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after buying an additional 130,461 shares during the period. State Street Corp raised its position in Landstar System by 1.8% in the fourth quarter. State Street Corp now owns 1,208,933 shares of the transportation company’s stock worth $103,119,000 after buying an additional 21,492 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Landstar System by 2.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,049,928 shares of the transportation company’s stock worth $89,927,000 after buying an additional 24,645 shares during the period. Finally, FMR LLC raised its position in Landstar System by 42.6% in the fourth quarter. FMR LLC now owns 804,065 shares of the transportation company’s stock worth $68,587,000 after buying an additional 240,340 shares during the period. Institutional investors and hedge funds own 97.46% of the company’s stock.
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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