Landstar System, Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $98.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.73% from the company’s previous close.
According to Zacks, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America. “
A number of other equities research analysts have also recently weighed in on LSTR. BidaskClub cut Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Stifel Nicolaus lifted their price target on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Cowen and Company lifted their price target on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus target price of $85.50.
Landstar System (NASDAQ LSTR) traded down 0.17% during mid-day trading on Thursday, hitting $88.35. The stock had a trading volume of 46,895 shares. Landstar System has a 12-month low of $65.05 and a 12-month 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 firm has a market cap of $3.70 billion, a PE ratio of 26.52 and a beta of 0.76.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, April 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Landstar System had a net margin of 4.34% and a return on equity of 26.51%. The firm had revenue of $780.90 million for the quarter, compared to analysts’ expectations of $757.56 million. During the same quarter last year, the company posted $0.69 earnings per share. Landstar System’s revenue was up 9.7% on a year-over-year basis. Analysts expect that Landstar System will post $3.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 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 valued at $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 valued at $289,747,000 after buying an additional 130,461 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 valued at $89,927,000 after buying an additional 24,645 shares during the period. 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 valued at $68,587,000 after buying an additional 240,340 shares during the period. Finally, Janus Capital Management LLC raised its position in Landstar System by 10.6% in the first quarter. Janus Capital Management LLC now owns 659,739 shares of the transportation company’s stock valued at $56,507,000 after buying an additional 63,085 shares during the period. Hedge funds and other institutional investors 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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