Landstar System (NASDAQ:LSTR) Upgraded to Peer Perform by Wolfe Research

Landstar System (NASDAQ:LSTR) was upgraded by analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research report issued on Friday, June 28th, Marketbeat.com reports.

A number of other brokerages have also recently issued reports on LSTR. Credit Suisse Group reissued an “outperform” rating on shares of salesforce.com in a research report on Thursday, June 6th. Stifel Nicolaus boosted their target price on shares of Western Digital from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Cowen reaffirmed a “market perform” rating and set a $113.00 price objective (down previously from $115.00) on shares of Landstar System in a research report on Thursday, June 6th. BidaskClub cut shares of Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. Finally, Buckingham Research cut shares of At Home Group from a “buy” rating to an “underperform” rating in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.44.

LSTR stock traded up $2.02 during midday trading on Friday, reaching $110.36. 304,885 shares of the company were exchanged, compared to its average volume of 353,215. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s 50-day simple moving average is $104.43. Landstar System has a one year low of $90.23 and a one year high of $128.70. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Landstar System (NASDAQ:LSTR) last released 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. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts expect that Landstar System will post 6.28 EPS for the current year.

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

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in Landstar System by 130.3% in the 1st quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock worth $31,000 after acquiring an additional 159 shares during the last quarter. Manchester Capital Management LLC bought a new position in Landstar System in the 1st quarter worth about $65,000. Zions Bancorporation N.A. bought a new position in Landstar System in the 1st quarter worth about $192,000. Park National Corp OH bought a new position in Landstar System in the 1st quarter worth about $201,000. Finally, Rockefeller Capital Management L.P. bought a new position in Landstar System in the 1st quarter worth about $244,000. 98.66% of the stock is owned by hedge funds and other 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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