Landstar System (LSTR) Given New $121.00 Price Target at Buckingham Research

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Landstar System (NASDAQ:LSTR) had its target price trimmed by Buckingham Research from $127.00 to $121.00 in a report published on Friday morning. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other equities analysts have also weighed in on LSTR. Susquehanna Bancshares lowered shares of Landstar System from a positive rating to a neutral rating in a research report on Friday, July 13th. Zacks Investment Research lowered shares of Landstar System from a buy rating to a hold rating in a research report on Thursday. BidaskClub lowered shares of Landstar System from a hold rating to a sell rating in a research report on Friday. Stifel Nicolaus reissued a hold rating and issued a $123.00 price objective on shares of Landstar System in a research report on Wednesday, June 27th. Finally, KeyCorp restated a buy rating and issued a $130.00 price target (up from $125.00) on shares of Landstar System in a research note on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Landstar System currently has an average rating of Hold and an average price target of $118.42.

NASDAQ LSTR traded up $0.61 on Friday, hitting $106.88. 539,256 shares of the stock were exchanged, compared to its average volume of 335,794. The firm has a market capitalization of $5.01 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. Landstar System has a 52 week low of $94.80 and a 52 week high of $128.70. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.10.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.02). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 5.38% and a return on equity of 31.06%. Landstar System’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. On average, research analysts anticipate that Landstar System will post 6.07 EPS for the current fiscal year.

In other news, COO Joseph J. Beacom sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total value of $358,560.00. Following the sale, the chief operating officer now directly owns 33,702 shares in the company, valued at approximately $4,028,063.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LSTR. BlackRock Inc. boosted its stake in shares of Landstar System by 18.0% in the 2nd quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock valued at $548,369,000 after purchasing an additional 764,662 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Landstar System by 157.3% in the 1st quarter. Millennium Management LLC now owns 531,453 shares of the transportation company’s stock valued at $58,274,000 after purchasing an additional 324,924 shares in the last quarter. Smith Asset Management Group LP boosted its stake in shares of Landstar System by 134.9% in the 2nd quarter. Smith Asset Management Group LP now owns 459,476 shares of the transportation company’s stock valued at $50,195,000 after purchasing an additional 263,884 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Landstar System in the 3rd quarter valued at approximately $28,755,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Landstar System by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock valued at $167,005,000 after purchasing an additional 130,937 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Landstar System Company Profile

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, including third party logistics and less-than-truckload service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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