Landstar System (NASDAQ:LSTR) Rating Lowered to Sell at BidaskClub

Landstar System (NASDAQ:LSTR) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

Several other research analysts have also recently weighed in on LSTR. Morgan Stanley cut their price objective on Landstar System from $91.00 to $90.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Buckingham Research cut their price objective on Landstar System from $115.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Credit Suisse Group set a $103.00 target price on Landstar System and gave the company a “hold” rating in a research note on Sunday, September 15th. Finally, Stephens set a $129.00 target price on Landstar System and gave the company a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $111.88.

LSTR stock opened at $110.37 on Tuesday. The stock’s fifty day simple moving average is $114.12 and its two-hundred day simple moving average is $109.46. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.08. Landstar System has a 1-year low of $90.23 and a 1-year high of $120.23. The stock has a market cap of $4.36 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.58 and a beta of 1.26.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.09). Landstar System had a return on equity of 33.90% and a net margin of 5.76%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. As a group, analysts forecast that Landstar System will post 5.89 earnings per share for the current fiscal year.

In related news, Director Diana M. Murphy sold 7,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.96, for a total transaction of $825,720.00. Following the sale, the director now directly owns 31,969 shares in the company, valued at approximately $3,771,063.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $117.23, for a total value of $586,150.00. Following the sale, the chief operating officer now owns 40,924 shares in the company, valued at $4,797,520.52. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Landstar System by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,134,514 shares of the transportation company’s stock valued at $446,485,000 after purchasing an additional 358,887 shares during the period. Victory Capital Management Inc. raised its stake in shares of Landstar System by 10.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,292,725 shares of the transportation company’s stock valued at $247,592,000 after purchasing an additional 212,025 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Landstar System by 2.2% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 900,514 shares of the transportation company’s stock valued at $101,380,000 after purchasing an additional 19,318 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Landstar System by 0.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 878,930 shares of the transportation company’s stock valued at $94,916,000 after purchasing an additional 4,737 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Landstar System by 30.6% during the 2nd quarter. Schroder Investment Management Group now owns 878,100 shares of the transportation company’s stock valued at $94,826,000 after purchasing an additional 205,900 shares during the period.

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 service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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