Landstar System (NASDAQ:LSTR) Stock Price Target Cut by JPMorgan Chase & Co.

Landstar System (NASDAQ:LSTR) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $181.00 to $172.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 24.21% from the company’s current price.

A number of other research analysts have also recently commented on LSTR. Wall Street Zen cut Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. UBS Group set a $185.00 price objective on Landstar System in a research report on Wednesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Landstar System in a report on Wednesday. The Goldman Sachs Group upped their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Finally, Robert W. Baird dropped their target price on Landstar System from $215.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $187.00.

Landstar System Price Performance

LSTR stock traded down $30.30 during trading on Wednesday, reaching $138.48. 898,338 shares of the company were exchanged, compared to its average volume of 479,824. The company has a 50-day moving average of $172.65 and a two-hundred day moving average of $176.75. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 35.84 and a beta of 0.90. Landstar System has a twelve month low of $121.11 and a twelve month high of $228.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.25). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS. As a group, equities analysts predict that Landstar System will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently made changes to their positions in LSTR. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Landstar System in the second quarter valued at about $35,000. Trust Co. of Vermont acquired a new stake in Landstar System during the 2nd quarter valued at approximately $41,000. Elevation Wealth Partners LLC increased its position in Landstar System by 41.8% during the 2nd 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 period. Reyes Financial Architecture Inc. bought a new position in Landstar System during the 3rd quarter worth approximately $46,000. Finally, Essential Partners LLC raised its holdings in Landstar System by 58.3% during the 1st quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock worth $44,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System News Roundup

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

• Positive Sentiment: Third-quarter revenue increased 25% year over year to $1.512 billion, exceeding the approximately $1.50 billion analyst estimate. Variable contribution rose 25%, while reported EPS increased from $0.56 to $1.42; the prior-year figure was depressed by a $30.1 million impairment charge. Landstar System Reports Third Quarter Results
• Positive Sentiment: Management expects truck revenue per load to rise about 1% sequentially in the fourth quarter, suggesting relatively healthy freight pricing even though variable contribution margins may compress by 20 to 30 basis points.
• Positive Sentiment: Landstar declared a quarterly dividend of $0.44 per share, or $1.76 annualized, supporting a modest income component for shareholders.
• Neutral Sentiment: Wells Fargo and Robert W. Baird lowered their price targets to $215 and $195, respectively, but retained positive ratings of “overweight” and “outperform.” Raymond James maintained a “market perform” rating. Wells Fargo Analyst Ratings
• Negative Sentiment: Landstar’s reported third-quarter EPS of $1.42 missed the roughly $1.67 consensus estimate, even though revenue topped expectations. Elevated insurance and claims costs weighed on profitability and made the earnings quality less favorable than the headline revenue growth suggests.
• Negative Sentiment: Investors had already priced in a substantial recovery in Landstar’s profits. The earnings miss therefore raised concerns that the stock had advanced beyond a reasonable valuation, with a P/E ratio near 36, prompting a sharp reassessment despite year-over-year profit growth.

Landstar System Company Profile

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.