Morgan Stanley Reiterates “$91.00” Price Target for Landstar System (NASDAQ:LSTR)

Morgan Stanley set a $91.00 target price on Landstar System (NASDAQ:LSTR) in a research report report published on Monday, Stock Target Advisor reports. The brokerage currently has a sell rating on the transportation company’s stock.

A number of other research firms have also recently weighed in on LSTR. Stifel Nicolaus lifted their price target on Western Digital from $48.00 to $55.00 and gave the company a buy rating in a report on Tuesday, April 30th. Wolfe Research raised Covenant Transportation Group from an underperform rating to a peer perform rating in a report on Friday, June 28th. Stephens set a $112.00 price target on Genesee & Wyoming and gave the company a hold rating in a report on Monday, July 1st. Raymond James reaffirmed a buy rating and set a $26.00 price target on shares of Propetro in a report on Tuesday, July 2nd. Finally, BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $109.44.

Shares of LSTR traded up $0.18 during mid-day trading on Monday, reaching $104.89. 317,504 shares of the company’s stock traded hands, compared to its average volume of 373,698. The firm’s 50-day simple moving average is $103.17. The company has a market cap of $4.36 billion, a PE ratio of 16.97, a P/E/G ratio of 1.43 and a beta of 1.26. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Landstar System has a 12 month low of $90.23 and a 12 month high of $128.70.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.06. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, analysts expect that Landstar System will post 6.34 EPS for the current fiscal year.

In related news, CMO Patrick J. O’malley sold 23,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at $2,319,351.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph J. Beacom sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the transaction, the chief operating officer now owns 45,924 shares in the company, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC grew its position in Landstar System by 130.3% in the first quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock worth $31,000 after buying an additional 159 shares during the last quarter. Manchester Capital Management LLC acquired a new position in Landstar System in the first quarter worth approximately $65,000. Zions Bancorporation N.A. acquired a new position in Landstar System in the first quarter worth approximately $192,000. Park National Corp OH acquired a new position in Landstar System in the first quarter worth approximately $201,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Landstar System in the first quarter worth approximately $244,000. Institutional investors and hedge funds own 98.66% 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, such as third party logistics and less-than-truckload service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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