Morgan Stanley Reiterates $91.00 Price Target for Landstar System (NASDAQ:LSTR)

Morgan Stanley set a $91.00 price objective on Landstar System (NASDAQ:LSTR) in a research note released on Monday, Stock Target Advisor reports. The brokerage currently has a sell rating on the transportation company’s stock.

Several other research firms have also recently weighed in on LSTR. Stephens set a $112.00 price target on Genesee & Wyoming and gave the stock a hold rating in a report on Monday, July 1st. Raymond James restated a buy rating and set a $26.00 price objective on shares of Propetro in a research note on Tuesday, July 2nd. Stifel Nicolaus raised their price objective on Western Digital from $48.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Credit Suisse Group restated an outperform rating on shares of salesforce.com in a research note on Thursday, June 6th. Finally, Wolfe Research upgraded Covenant Transportation Group from an underperform rating to a peer perform rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Landstar System currently has a consensus rating of Hold and an average target price of $109.44.

NASDAQ:LSTR opened at $104.89 on Monday. The firm has a market cap of $4.36 billion, a PE ratio of 16.97, a P/E/G ratio of 1.43 and a beta of 1.26. The business’s 50 day moving average price is $103.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System has a 1-year low of $90.23 and a 1-year high of $128.70.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.06. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.37 EPS. As a group, equities research analysts predict that Landstar System will post 6.34 earnings per share for the current fiscal year.

In other news, CMO Patrick J. O’malley sold 23,000 shares of Landstar System stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total value of $2,548,860.00. Following the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of Landstar System stock in a transaction on Monday, April 29th. The shares were sold at an average price of $114.12, for a total value of $570,600.00. Following the completion of the transaction, the chief operating officer now owns 45,924 shares in the company, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Landstar System by 5.2% in the 1st quarter. BlackRock Inc. now owns 5,689,622 shares of the transportation company’s stock valued at $622,387,000 after purchasing an additional 278,921 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Landstar System by 21.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,080,700 shares of the transportation company’s stock valued at $227,607,000 after purchasing an additional 361,977 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Landstar System by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,131,576 shares of the transportation company’s stock valued at $123,783,000 after purchasing an additional 2,896 shares during the last quarter. FMR LLC increased its stake in shares of Landstar System by 4.8% in the 4th quarter. FMR LLC now owns 908,274 shares of the transportation company’s stock valued at $86,895,000 after purchasing an additional 41,830 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Landstar System by 2.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 880,115 shares of the transportation company’s stock valued at $96,276,000 after purchasing an additional 21,023 shares during the last quarter. Institutional investors own 98.66% 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 service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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