JPMorgan Chase & Co. Issues Positive Forecast for Landstar System (NASDAQ:LSTR) Stock Price

Landstar System (NASDAQ:LSTR) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $134.00 to $162.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.60% from the stock’s current price.

LSTR has been the topic of several other research reports. Stifel Nicolaus boosted their price target on shares of Landstar System from $127.00 to $140.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Truist Financial lowered their target price on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Robert W. Baird set a $159.00 price objective on Landstar System in a report on Wednesday. Finally, Morgan Stanley upped their price objective on Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average price target of $146.50.

Landstar System Stock Performance

Landstar System stock traded up $0.67 during trading hours on Monday, hitting $156.37. The stock had a trading volume of 312,384 shares, compared to its average volume of 482,814. The company has a 50-day moving average of $136.83 and a two-hundred day moving average of $133.59. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $179.74. The company has a market cap of $5.37 billion, a PE ratio of 39.87 and a beta of 0.84.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, equities research analysts anticipate that Landstar System will post 6.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vestmark Advisory Solutions Inc. increased its holdings in Landstar System by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after purchasing an additional 78 shares in the last quarter. Cardinal Capital Management grew its holdings in shares of Landstar System by 0.4% during the third quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after purchasing an additional 90 shares during the last quarter. Huntington National Bank increased its stake in shares of Landstar System by 9.7% in the third quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after buying an additional 100 shares in the last quarter. Eukles Asset Management increased its stake in shares of Landstar System by 1.1% in the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after buying an additional 105 shares in the last quarter. Finally, MAI Capital Management lifted its position in Landstar System by 79.3% during the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after buying an additional 107 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.