Truist Financial Increases Landstar System (NASDAQ:LSTR) Price Target to $150.00

Landstar System (NASDAQ:LSTR) had its price target lifted by Truist Financial from $130.00 to $150.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Truist Financial’s price target would suggest a potential downside of 2.91% from the stock’s previous close.

A number of other research analysts have also recently commented on LSTR. Stifel Nicolaus raised their target price on Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. TD Cowen raised their price objective on Landstar System from $138.00 to $150.00 and gave the company a “hold” rating in a research report on Friday, January 9th. Robert W. Baird set a $159.00 target price on shares of Landstar System in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $145.00 to $170.00 in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $153.00.

Landstar System Trading Up 0.6%

NASDAQ:LSTR opened at $154.50 on Thursday. The company has a 50-day moving average price of $138.46 and a 200-day moving average price of $133.96. Landstar System has a 12 month low of $119.32 and a 12 month high of $179.74. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 39.41 and a beta of 0.84.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. Landstar System’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that Landstar System will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Landstar System by 16.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,609 shares of the transportation company’s stock worth $527,000 after purchasing an additional 510 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new stake in Landstar System during the second quarter valued at about $2,339,000. Perigon Wealth Management LLC purchased a new stake in Landstar System in the second quarter worth about $357,000. Public Employees Retirement System of Ohio increased its position in Landstar System by 8.0% in the second quarter. Public Employees Retirement System of Ohio now owns 37,232 shares of the transportation company’s stock worth $5,176,000 after buying an additional 2,758 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Landstar System by 109.6% in the second quarter. GAMMA Investing LLC now owns 939 shares of the transportation company’s stock worth $131,000 after buying an additional 491 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Company Profile

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.