Buckingham Research Cuts Landstar System (NASDAQ:LSTR) Price Target to $112.00

Landstar System (NASDAQ:LSTR) had its target price reduced by investment analysts at Buckingham Research from $121.00 to $112.00 in a research note issued on Friday, June 7th, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s target price suggests a potential upside of 3.75% from the company’s previous close.

Several other equities analysts also recently commented on LSTR. Cowen reissued a “market perform” rating and issued a $113.00 target price (down previously from $115.00) on shares of Landstar System in a report on Thursday, June 6th. Credit Suisse Group reduced their price target on shares of Landstar System from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Thursday, June 6th. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus upped their price target on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $110.44.

Shares of LSTR stock traded down $0.04 during trading hours on Friday, reaching $107.95. The company had a trading volume of 311,279 shares, compared to its average volume of 379,412. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.42 and a beta of 1.26. The business has a fifty day moving average of $102.97. Landstar System has a one year low of $90.23 and a one year high of $128.70.

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

In other news, COO Joseph J. Beacom sold 5,000 shares of Landstar System stock in a transaction on Monday, April 29th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Patrick J. O’malley sold 23,000 shares of Landstar System stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total value of $2,548,860.00. Following the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Several large investors have recently modified their holdings of LSTR. Advisory Services Network LLC grew its position in Landstar System by 130.3% in the 1st quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 159 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of Landstar System in the 1st quarter valued at about $65,000. Penserra Capital Management LLC purchased a new position in shares of Landstar System in the 4th quarter valued at about $79,000. Zions Bancorporation N.A. purchased a new position in shares of Landstar System in the 1st quarter valued at about $192,000. Finally, Park National Corp OH purchased a new position in shares of Landstar System in the 1st quarter valued at about $201,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

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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