Landstar System (NASDAQ:LSTR) Given Market Perform Rating at Cowen

Landstar System (NASDAQ:LSTR)‘s stock had its “market perform” rating reissued by equities researchers at Cowen in a report released on Thursday, June 6th, MarketBeat.com reports. They presently have a $113.00 price objective on the transportation company’s stock, down from their previous price objective of $115.00. Cowen’s target price points to a potential upside of 4.68% from the company’s current price.

Several other research firms also recently commented on LSTR. BidaskClub upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Stifel Nicolaus upped their price target on shares of Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Credit Suisse Group decreased 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 note on Thursday, June 6th. Finally, Buckingham Research decreased their price target on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $110.44.

NASDAQ LSTR traded down $0.04 during trading on Thursday, reaching $107.95. 311,279 shares of the stock traded hands, compared to its average volume of 379,412. The firm’s 50-day moving average is $102.94. 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 company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Landstar System has a fifty-two week low of $90.23 and a fifty-two week high of $128.70.

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

In other Landstar System news, CMO Patrick J. O’malley sold 23,000 shares of the 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 completion of the sale, the chief marketing officer now owns 20,929 shares of the company’s stock, valued at approximately $2,319,351.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of Landstar System stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in LSTR. BlackRock Inc. increased its holdings in Landstar System by 8.9% in the 4th quarter. BlackRock Inc. now owns 5,410,701 shares of the transportation company’s stock worth $517,643,000 after acquiring an additional 444,387 shares during the last quarter. Norges Bank purchased a new position in Landstar System during the 4th quarter valued at about $41,862,000. Victory Capital Management Inc. grew its holdings in Landstar System by 21.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,080,700 shares of the transportation company’s stock valued at $227,607,000 after buying an additional 361,977 shares in the last quarter. Impala Asset Management LLC purchased a new position in Landstar System during the 1st quarter valued at about $25,012,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in Landstar System by 2,928.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 225,451 shares of the transportation company’s stock valued at $24,662,000 after buying an additional 218,006 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

About Landstar System

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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