BidaskClub Downgrades Landstar System (NASDAQ:LSTR) to Hold

BidaskClub cut shares of Landstar System (NASDAQ:LSTR) from a buy rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.

Several other brokerages have also issued reports on LSTR. Stifel Nicolaus raised their price target on shares of Western Digital from $48.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Raymond James restated a buy rating and set a $26.00 price target on shares of Propetro in a research note on Tuesday, July 2nd. Wolfe Research upgraded shares of Covenant Transportation Group from an underperform rating to a peer perform rating in a research note on Friday, June 28th. Credit Suisse Group restated an outperform rating on shares of salesforce.com in a research note on Thursday, June 6th. Finally, Buckingham Research lowered shares of At Home Group from a buy rating to an underperform rating in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $109.44.

Landstar System stock opened at $108.50 on Friday. Landstar System has a 52 week low of $90.23 and a 52 week high of $128.70. The business’s 50 day moving average price is $103.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $4.38 billion, a PE ratio of 17.56, a P/E/G ratio of 1.45 and a beta of 1.26.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $1.37 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Landstar System will post 6.28 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSTR. Norges Bank purchased a new position in shares of Landstar System during the 4th quarter valued at $41,862,000. Victory Capital Management Inc. grew its position in shares of Landstar System by 21.1% during 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 in the last quarter. BlackRock Inc. lifted its holdings in shares of Landstar System by 5.2% during the 1st quarter. BlackRock Inc. now owns 5,689,622 shares of the transportation company’s stock worth $622,387,000 after acquiring an additional 278,921 shares during the last quarter. Impala Asset Management LLC bought a new stake in shares of Landstar System during the 1st quarter worth $25,012,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Landstar System by 2,928.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 225,451 shares of the transportation company’s stock worth $24,662,000 after acquiring an additional 218,006 shares during the last quarter. Hedge funds and other 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.

Further Reading: Put Option

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.