Investment analysts at Cleveland Research started coverage on shares of Landstar System (NASDAQ:LSTR) in a research report issued on Friday, October 19th, Marketbeat.com reports. The brokerage set a “neutral” rating on the transportation company’s stock.
A number of other research analysts also recently weighed in on the company. Buckingham Research lowered their price target on Landstar System from $127.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 12th. BidaskClub downgraded Landstar System from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Zacks Investment Research downgraded Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Wolfe Research downgraded Landstar System from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. Finally, ValuEngine cut Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $117.00.
Shares of NASDAQ LSTR traded down $1.35 during mid-day trading on Friday, reaching $102.71. The company had a trading volume of 570,289 shares, compared to its average volume of 472,704. Landstar System has a 1-year low of $94.80 and a 1-year high of $128.70. The company has a quick ratio of 1.82, a current ratio of 1.94 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.30 and a beta of 1.11.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Landstar System had a return on equity of 33.82% and a net margin of 5.61%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, analysts anticipate that Landstar System will post 6.08 earnings per share for the current year.
In related news, COO Joseph J. Beacom sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total transaction of $358,560.00. Following the completion of the transaction, the chief operating officer now owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Landstar System by 22.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,080 shares of the transportation company’s stock valued at $337,000 after acquiring an additional 572 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Landstar System in the 1st quarter valued at approximately $370,000. Northwestern Mutual Investment Management Company LLC raised its holdings in Landstar System by 56.5% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 8,592 shares of the transportation company’s stock valued at $942,000 after acquiring an additional 3,101 shares in the last quarter. UBS Group AG raised its holdings in Landstar System by 7.2% in the 1st quarter. UBS Group AG now owns 38,346 shares of the transportation company’s stock valued at $4,204,000 after acquiring an additional 2,571 shares in the last quarter. Finally, Natixis acquired a new position in Landstar System in the 1st quarter valued at approximately $548,000. 97.30% of the stock is owned by institutional investors and hedge funds.
About Landstar System
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, including third party logistics and less-than-truckload service providers.
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