Landstar System, Inc. (LSTR) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Landstar System, Inc. (NASDAQ:LSTR) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $111.00 price target on the transportation company’s stock.
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. “
A number of other research analysts have also commented on LSTR. BidaskClub upgraded shares of Landstar System from a sell rating to a hold rating in a research note on Tuesday, June 13th. Deutsche Bank AG lowered shares of Landstar System from a buy rating to a hold rating and lowered their price objective for the company from $97.00 to $87.00 in a research note on Monday, July 31st. Stifel Nicolaus upgraded shares of Landstar System from a hold rating to a buy rating and raised their price objective for the company from $87.00 to $95.00 in a research note on Monday, July 31st. Morgan Stanley raised their price objective on shares of Landstar System from $66.00 to $68.00 and gave the company an underweight rating in a research note on Monday, August 7th. Finally, Cowen and Company reiterated a hold rating and set a $86.00 price objective on shares of Landstar System in a research note on Monday, August 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $93.10.
Landstar System (NASDAQ:LSTR) traded down 0.25% during trading on Tuesday, reaching $99.90. The company’s stock had a trading volume of 19,334 shares. Landstar System has a 52 week low of $65.05 and a 52 week high of $101.75. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 28.86 and a beta of 0.76. The firm has a 50 day moving average of $95.49 and a 200 day moving average of $87.53.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The business had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Landstar System will post $3.61 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in Landstar System in the second quarter worth approximately $1,517,000. Koch Industries Inc. acquired a new position in Landstar System in the second quarter worth approximately $339,000. Verition Fund Management LLC acquired a new position in Landstar System in the second quarter worth approximately $684,000. Ameritas Investment Partners Inc. grew its position in Landstar System by 0.8% in the second quarter. Ameritas Investment Partners Inc. now owns 29,846 shares of the transportation company’s stock worth $2,554,000 after buying an additional 231 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C grew its position in Landstar System by 6.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock worth $208,046,000 after buying an additional 147,478 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.
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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