JPMorgan Chase & Co. Lowers Landstar System (NASDAQ:LSTR) Price Target to $147.00

Landstar System (NASDAQ:LSTR) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $177.00 to $147.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.09% from the company’s current price.

Several other equities analysts also recently commented on the company. TD Cowen dropped their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Susquehanna decreased their price target on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, March 26th. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Thursday. Finally, Truist Financial lowered their target price on Landstar System from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.45.

Landstar System Price Performance

Shares of LSTR stock traded down $9.33 on Thursday, reaching $142.60. The company had a trading volume of 209,212 shares, compared to its average volume of 274,880. The stock has a market capitalization of $5.04 billion, a PE ratio of 25.83 and a beta of 0.82. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average is $157.89 and its 200 day moving average is $172.99. Landstar System has a one year low of $142.02 and a one year high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Equities research analysts forecast that Landstar System will post 6.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after acquiring an additional 521,695 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Landstar System during the fourth quarter valued at about $63,816,000. Norges Bank bought a new position in shares of Landstar System during the 4th quarter worth about $54,088,000. Corient Private Wealth LLC grew its stake in shares of Landstar System by 1,207.3% in the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock valued at $50,509,000 after buying an additional 271,417 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Landstar System by 116.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock valued at $47,205,000 after buying an additional 147,756 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 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, such as third party logistics and less-than-truckload services.