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. “
Other equities analysts also recently issued research reports about the company. Citigroup Inc. downgraded Landstar System to a market perform rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. downgraded Landstar System to an outperform rating in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. Landstar System currently has an average rating of Hold and a consensus price target of $62.66.
Shares of Landstar System (NASDAQ:LSTR) opened at 67.24 on Tuesday. The firm has a market cap of $2.83 billion, a P/E ratio of 20.78 and a beta of 0.80. Landstar System has a one year low of $53.03 and a one year high of $72.97. The firm has a 50 day moving average price of $67.85 and a 200-day moving average price of $67.39.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.05. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business earned $775 million during the quarter, compared to analysts’ expectations of $790.95 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Landstar System’s quarterly revenue was down 10.7% on a year-over-year basis. Analysts forecast that Landstar System will post $3.08 earnings per share for the current year.
In other news, CMO Patrick J. O’malley sold 1,787 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total value of $123,606.79. Following the transaction, the chief marketing officer now owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Glenmede Trust Co. NA boosted its position in Landstar System by 0.5% in the first quarter. Glenmede Trust Co. NA now owns 10,198 shares of the company’s stock valued at $658,000 after buying an additional 51 shares during the last quarter. Aperio Group LLC boosted its position in Landstar System by 8.9% in the first quarter. Aperio Group LLC now owns 13,508 shares of the company’s stock valued at $873,000 after buying an additional 1,101 shares during the last quarter. Virginia Retirement System purchased a new position in Landstar System during the first quarter valued at $1,253,000. TIAA CREF Investment Management LLC boosted its position in Landstar System by 26.4% in the first quarter. TIAA CREF Investment Management LLC now owns 211,635 shares of the company’s stock valued at $13,674,000 after buying an additional 44,236 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Landstar System by 8.9% in the first quarter. Prudential Financial Inc. now owns 30,994 shares of the company’s stock valued at $2,003,000 after buying an additional 2,530 shares during the last quarter.
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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