Landstar System (NASDAQ:LSTR) Stock Price Target Lowered at Robert W. Baird

Landstar System (NASDAQ:LSTR) had its target price cut by equities researchers at Robert W. Baird from $215.00 to $195.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird‘s target price suggests a potential upside of 15.54% from the stock’s current price.

Several other analysts also recently issued reports on LSTR. Stifel Nicolaus upped their price objective on Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Landstar System in a research note on Friday, September 11th. The Goldman Sachs Group lifted their price objective on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price objective on Landstar System from $240.00 to $225.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Landstar System in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $189.71.

Landstar System Price Performance

Shares of Landstar System stock opened at $168.78 on Wednesday. Landstar System has a 1 year low of $121.11 and a 1 year high of $228.46. The business has a 50 day moving average price of $172.65 and a 200 day moving average price of $176.75. The company has a market capitalization of $5.73 billion, a P/E ratio of 43.73 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 27th. The transportation company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.25). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. The business’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. As a group, research analysts expect that Landstar System will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Landstar System during the second quarter worth $35,000. Trust Co. of Vermont purchased a new stake in shares of Landstar System in the second quarter valued at $41,000. Elevation Wealth Partners LLC increased its stake in Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 66 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new position in Landstar System in the third quarter valued at $46,000. Finally, Essential Partners LLC lifted its position in Landstar System by 58.3% during the first quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock worth $44,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Key Stories Impacting Landstar System

Here are the key news stories impacting Landstar System this week:

• Positive Sentiment: Revenue and operating metrics improved significantly. Landstar reported third-quarter revenue of $1.512 billion, up 25% year over year and slightly above the roughly $1.50 billion analyst estimate. Variable contribution increased 25%, while gross profit rose 14%. Landstar System Reports Third Quarter Revenue and Earnings
• Positive Sentiment: Earnings benefited from an easier year-ago comparison. Reported EPS was $1.42, compared with $0.56 in the prior-year quarter, which included a $30.1 million non-cash impairment charge. Some data services reported adjusted EPS of $1.89, above their consensus estimate, although the company’s reported figure was below the $1.67 estimate cited by other analysts. Landstar System Earnings Results
• Positive Sentiment: Landstar maintained its cash-return program. The company declared a quarterly dividend of $0.44 per share, or $1.76 annualized, with a stated yield of approximately 1%. The dividend is payable December 8 to shareholders of record November 17.
• Neutral Sentiment: Analyst conviction remains limited. Raymond James reiterated a Market Perform rating, suggesting the firm sees the stock as fairly valued following the earnings release. Raymond James Market Perform Rating
• Negative Sentiment: Profitability and the outlook remain concerns. Reported EPS missed some Wall Street estimates, while elevated insurance and claims costs pressured third-quarter results. Landstar expects fourth-quarter truck revenue per load to rise only about 1% sequentially, accompanied by 20–30 basis points of variable contribution margin compression. Landstar Fourth-Quarter Seasonal Outlook

About Landstar System

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.