The Goldman Sachs Group Trims Landstar System (NASDAQ:LSTR) Target Price to $158.00

Landstar System (NASDAQ:LSTR) had its price target reduced by investment analysts at The Goldman Sachs Group from $165.00 to $158.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 13.31% from the company’s current price.

A number of other brokerages have also issued reports on LSTR. Stifel Nicolaus decreased their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. TD Cowen increased their price target on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Evercore ISI cut their price target on Landstar System from $167.00 to $165.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Finally, Susquehanna upped their price target on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $177.25.

Landstar System Price Performance

LSTR stock opened at $182.25 on Wednesday. The firm has a 50 day moving average of $184.24 and a 200-day moving average of $182.66. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 28.04 and a beta of 0.80. Landstar System has a 12-month low of $161.13 and a 12-month high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 earnings per share. As a group, equities analysts expect that Landstar System will post 5.87 EPS for the current fiscal year.

Institutional Trading of Landstar System

A number of large investors have recently modified their holdings of LSTR. Vanguard Group Inc. grew its position in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Quantbot Technologies LP increased its position in Landstar System by 415.1% in the 1st quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock valued at $1,007,000 after acquiring an additional 4,209 shares during the period. Van ECK Associates Corp raised its stake in Landstar System by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock valued at $3,118,000 after acquiring an additional 4,327 shares in the last quarter. Sei Investments Co. boosted its position in Landstar System by 17.9% during the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after acquiring an additional 10,978 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Landstar System by 125.4% in the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after purchasing an additional 7,118 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.