Buckingham Research initiated coverage on shares of Landstar System, Inc. (NASDAQ:LSTR) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $103.00 target price on the transportation company’s stock.
Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Landstar System from a hold rating to a buy rating and set a $98.00 price target on the stock in a research note on Thursday, July 6th. Cowen and Company reiterated a hold rating and issued a $86.00 target price on shares of Landstar System in a research note on Monday, August 28th. Deutsche Bank AG lowered Landstar System from a buy rating to a hold rating and cut their target price for the company from $97.00 to $87.00 in a research note on Monday, July 31st. Stephens upgraded Landstar System from an equal weight rating to an overweight rating and lifted their target price for the company from $88.00 to $103.00 in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $95.00 target price on shares of Landstar System in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $94.00.
Landstar System (NASDAQ LSTR) traded down 0.55% during mid-day trading on Friday, hitting $99.55. 28,565 shares of the stock were exchanged. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 28.76 and a beta of 0.76. Landstar System has a 52-week low of $69.20 and a 52-week high of $102.55. The stock has a 50 day moving average of $97.40 and a 200-day moving average of $88.11.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Equities analysts predict that Landstar System will post $3.62 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of LSTR. Advisor Group Inc. lifted its stake in Landstar System by 64.8% during the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after acquiring an additional 599 shares in the last quarter. IFP Advisors Inc lifted its stake in Landstar System by 2.9% during the 2nd quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock worth $141,000 after acquiring an additional 47 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Landstar System by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock worth $156,000 after acquiring an additional 224 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Landstar System by 22.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after acquiring an additional 373 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in Landstar System during the 2nd quarter worth about $202,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
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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