Landstar System, Inc. (NASDAQ:LSTR)‘s stock had its “hold” rating restated by Cowen and Company in a report issued on Friday, October 27th. They currently have a $97.00 price target on the transportation company’s stock. Cowen and Company’s price target would suggest a potential upside of 0.10% from the company’s current price.
Other equities analysts have also issued reports about the company. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $95.00 in a research report on Monday, July 31st. Buckingham Research assumed coverage on Landstar System in a research report on Friday, October 20th. They issued a “neutral” rating and a $103.00 price objective for the company. BidaskClub lowered Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Thursday, July 6th. Finally, Morgan Stanley upped their price target on Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Landstar System presently has an average rating of “Hold” and a consensus price target of $96.67.
Shares of Landstar System (NASDAQ:LSTR) traded up $0.40 on Friday, hitting $96.90. The company had a trading volume of 220,100 shares, compared to its average volume of 299,263. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 2.05. Landstar System has a 1-year low of $79.10 and a 1-year high of $102.55. The firm has a market cap of $4,049.70, a price-to-earnings ratio of 26.73, a PEG ratio of 1.95 and a beta of 0.80.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. During the same period in the previous year, the firm earned $0.86 EPS. Landstar System’s quarterly revenue was up 19.7% compared to the same quarter last year. research analysts anticipate that Landstar System will post 3.68 EPS for the current fiscal year.
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In other news, CEO James B. Gattoni sold 15,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $98.72, for a total value of $1,480,800.00. Following the completion of the sale, the chief executive officer now owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Kneller sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $2,193,147. The disclosure for this sale can be found here. In the last three months, insiders sold 39,805 shares of company stock valued at $3,929,828. 1.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Landstar System by 7,684.2% in the 1st quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock valued at $350,127,000 after acquiring an additional 4,035,361 shares during the period. Vanguard Group Inc. raised its stake in Landstar System by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,457,375 shares of the transportation company’s stock valued at $295,951,000 after acquiring an additional 74,458 shares during the period. Atlanta Capital Management Co. L L C raised its stake in Landstar System by 6.5% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock valued at $208,046,000 after acquiring an additional 147,478 shares during the period. Royce & Associates LP raised its stake in Landstar System by 0.5% in the 2nd quarter. Royce & Associates LP now owns 1,355,610 shares of the transportation company’s stock valued at $116,040,000 after acquiring an additional 7,100 shares during the period. Finally, FMR LLC raised its stake in Landstar System by 64.7% in the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after acquiring an additional 475,220 shares during the period. 98.91% of the stock is owned by institutional investors.
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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