Landstar System (NASDAQ:LSTR) Stock Gets Price Target Reduction from Morgan Stanley

Landstar System (NASDAQ:LSTR) had its price objective decreased by equities research analysts at Morgan Stanley from $145.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the transportation company’s stock. Morgan Stanley‘s price target indicates a potential downside of 11.87% from the stock’s current price.

Several other analysts have also recently commented on LSTR. Stephens lowered their price target on Landstar System from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. UBS Group dropped their price objective on Landstar System from $195.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Robert W. Baird dropped their price objective on Landstar System from $215.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Evercore set a $182.00 target price on Landstar System in a report on Wednesday, October 28th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $181.33.

Landstar System Trading Up 1.2%

Shares of LSTR stock traded up $1.80 during mid-day trading on Wednesday, hitting $147.51. 82,282 shares of the company’s stock were exchanged, compared to its average volume of 483,856. Landstar System has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The stock has a 50-day simple moving average of $165.28 and a two-hundred day simple moving average of $176.28. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 31.21 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 27th. The transportation company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities analysts expect that Landstar System will post 5.97 EPS for the current fiscal year.

Insider Transactions at Landstar System

In other Landstar System news, CEO Frank A. Lonegro acquired 5,000 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was bought at an average cost of $142.92 per share, for a total transaction of $714,600.00. Following the completion of the purchase, the chief executive officer directly owned 28,110 shares in the company, valued at $4,017,481.20. This represents a 21.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Landstar System during the 2nd quarter worth $698,683,000. Bank of New York Mellon Corp purchased a new position in Landstar System in the second quarter valued at about $68,507,000. Bank of America Corp DE purchased a new position in Landstar System in the second quarter valued at about $51,340,000. Corient Private Wealth LP purchased a new position in Landstar System in the second quarter valued at about $44,949,000. Finally, Jupiter Topco LLC acquired a new position in shares of Landstar System during the second quarter worth about $44,195,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc. is a transportation and logistics company that arranges freight movement through an asset-light network of independent agents, business capacity owners, and third-party transportation providers. Rather than relying primarily on a company-owned fleet, Landstar connects customers with available transportation capacity and coordinates shipments through its network. The company offers truckload services, including van, flatbed, and specialized transportation, as well as less-than-truckload, expedited, and intermodal shipping.