Landstar System (NASDAQ:LSTR) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.
A number of other research firms have also recently commented on LSTR. Cowen reiterated a “hold” rating and set a $86.00 price target on shares of Landstar System in a report on Monday, August 28th. KeyCorp reiterated a “buy” rating and set a $110.00 price target on shares of Landstar System in a report on Tuesday, October 3rd. Wells Fargo & Company lifted their price target on Landstar System from $83.00 to $98.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Morgan Stanley lifted their price target on Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. Finally, Buckingham Research lifted their price target on Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $96.67.
Landstar System (LSTR) opened at $102.60 on Tuesday. Landstar System has a 1-year low of $80.00 and a 1-year high of $104.80. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4,284.71, a PE ratio of 28.28, a P/E/G ratio of 2.06 and a beta of 0.81.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business had revenue of $943.40 million during the quarter, compared to analysts’ expectations of $895.31 million. During the same quarter last year, the company posted $0.86 earnings per share. Landstar System’s quarterly revenue was up 19.7% on a year-over-year basis. analysts forecast that Landstar System will post 3.68 EPS for the current fiscal year.
In other news, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the sale, the director now directly owns 6,656 shares in the company, valued at $654,284.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael K. Kneller sold 10,000 shares of Landstar System stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the vice president now owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. Insiders have sold 40,805 shares of company stock valued at $4,028,128 over the last 90 days. Company insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSTR. Advisor Group Inc. raised its position in shares of Landstar System by 64.8% in the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after buying an additional 599 shares in the last quarter. IFP Advisors Inc raised its position in shares of Landstar System by 2.9% in the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after buying an additional 47 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Landstar System by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after buying an additional 224 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of Landstar System in the third quarter valued at approximately $167,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Landstar System by 22.9% in the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after buying an additional 373 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.
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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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