Landstar System (NASDAQ:LSTR) Shares Up 4.8% Following Strong Earnings

Shares of Landstar System, Inc. (NASDAQ:LSTR) traded up 4.8% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $180.10 and last traded at $179.39. 341,235 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 272,162 shares. The stock had previously closed at $171.10.

The transportation company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LSTR shares. Wells Fargo & Company boosted their price objective on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Stifel Nicolaus dropped their price target on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. UBS Group increased their price objective on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Susquehanna decreased their price target on Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, March 25th. Finally, Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average target price of $184.55.

Insiders Place Their Bets

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares in the company, valued at $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Landstar System

Several institutional investors and hedge funds have recently modified their holdings of LSTR. Raymond James Financial Services Advisors Inc. grew its holdings in Landstar System by 1.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,560 shares of the transportation company’s stock worth $630,000 after purchasing an additional 63 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in Landstar System by 5.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 1,386 shares of the transportation company’s stock valued at $245,000 after acquiring an additional 70 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Landstar System by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 15,707 shares of the transportation company’s stock valued at $2,779,000 after buying an additional 80 shares during the period. Nilsine Partners LLC lifted its holdings in shares of Landstar System by 3.3% in the 3rd quarter. Nilsine Partners LLC now owns 2,619 shares of the transportation company’s stock worth $463,000 after acquiring an additional 84 shares during the last quarter. Finally, Mariner LLC lifted its holdings in shares of Landstar System by 0.9% in the 3rd quarter. Mariner LLC now owns 9,448 shares of the transportation company’s stock worth $1,672,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

The stock’s fifty day simple moving average is $185.05 and its 200-day simple moving average is $183.53. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04.

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 services.