Zacks Investment Research Upgrades Landstar System Inc. (LSTR) to “Hold”
Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
Several other brokerages have also commented on LSTR. Oppenheimer Holdings Inc. lowered Landstar System to an “outperform” rating in a research note on Tuesday, August 2nd. Citigroup Inc. lowered Landstar System to a “market perform” rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.66.
Shares of Landstar System (NASDAQ:LSTR) opened at 68.34 on Tuesday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 21.12 and a beta of 0.80. The stock’s 50 day moving average price is $68.01 and its 200 day moving average price is $67.39. Landstar System has a 12 month low of $53.03 and a 12 month high of $72.97.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $790.95 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business’s revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Equities research analysts predict that Landstar System will post $3.08 earnings per share for the current fiscal year.
In related news, CMO Patrick J. O’malley sold 1,787 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $69.17, for a total value of $123,606.79. Following the completion of the transaction, the chief marketing officer now owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LSTR. Victory Capital Management Inc. increased its position in shares of Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock worth $117,000 after buying an additional 745 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock valued at $124,000 after buying an additional 31 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock valued at $132,000 after buying an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Landstar System during the second quarter valued at about $135,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Landstar System during the second quarter valued at about $137,000.
Landstar System Company Profile
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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