Landstar System, Inc. (NASDAQ:LSTR)‘s stock had its “neutral” rating reissued by Credit Suisse Group in a note issued to investors on Tuesday, October 31st. They currently have a $97.00 target price on the transportation company’s stock, up from their prior target price of $84.00. Credit Suisse Group’s price target indicates a potential upside of 1.89% from the stock’s current price.
LSTR has been the subject of several other reports. Buckingham Research assumed coverage on Landstar System in a research note on Friday, October 20th. They set a “neutral” rating and a $103.00 target price for the company. Cowen and Company restated a “hold” rating and set a $97.00 target price on shares of Landstar System in a research note on Friday, October 27th. Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Morgan Stanley increased their price target on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Finally, Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $88.00 to $103.00 in a research report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Landstar System currently has an average rating of “Hold” and an average price target of $96.67.
Shares of Landstar System (NASDAQ:LSTR) traded down $1.60 during midday trading on Tuesday, reaching $95.20. The company had a trading volume of 300,593 shares, compared to its average volume of 261,971. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market cap of $3,995.14, a P/E ratio of 26.37, a P/E/G ratio of 1.92 and a beta of 0.80. Landstar System has a 52-week low of $80.00 and a 52-week high of $102.55.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The company’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. equities analysts predict that Landstar System will post 3.68 earnings per share for the current fiscal year.
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In other Landstar System news, CFO L Kevin Stout sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $99.00, for a total value of $495,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph J. Beacom sold 9,805 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.32, for a total transaction of $964,027.60. Following the completion of the sale, the chief operating officer now owns 55,649 shares in the company, valued at approximately $5,471,409.68. The disclosure for this sale can be found here. Insiders sold 39,805 shares of company stock worth $3,929,828 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. increased its stake in shares of Landstar System by 64.8% in the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares during the period. IFP Advisors Inc increased its stake in shares of Landstar System by 2.9% in the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Landstar System by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 224 shares during the period. Zions Bancorporation acquired a new stake in shares of Landstar System in the third quarter valued at approximately $167,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Landstar System by 22.9% in the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 373 shares during the period. Institutional investors own 97.47% of the company’s stock.
Landstar System Company Profile
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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