According to Zacks, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America. “
A number of other research analysts also recently commented on the stock. Oppenheimer Holdings Inc. downgraded shares of Landstar System to an outperform rating in a research report on Tuesday, August 2nd. Citigroup Inc. downgraded shares of Landstar System to a market perform rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $62.66.
Landstar System (NASDAQ:LSTR) opened at 65.92 on Thursday. The company has a market capitalization of $2.78 billion, a PE ratio of 20.37 and a beta of 0.76. Landstar System has a 12-month low of $53.03 and a 12-month high of $72.97. The stock’s 50 day moving average price is $68.15 and its 200 day moving average price is $67.29.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.05. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. The firm earned $775 million during the quarter, compared to analyst estimates of $790.95 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. Landstar System’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Landstar System will post $3.08 EPS for the current fiscal year.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the transaction, the chief marketing officer now directly owns 40,237 shares of the company’s stock, valued at approximately $2,783,193.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. purchased a new stake in shares of Landstar System during the first quarter valued at $332,000. Glenmede Trust Co. NA increased its stake in shares of Landstar System by 0.5% in the first quarter. Glenmede Trust Co. NA now owns 10,198 shares of the company’s stock valued at $658,000 after buying an additional 51 shares during the last quarter. Sii Investments Inc. WI increased its stake in shares of Landstar System by 3.3% in the first quarter. Sii Investments Inc. WI now owns 13,547 shares of the company’s stock valued at $875,000 after buying an additional 432 shares during the last quarter. Aperio Group LLC increased its stake in shares of Landstar System by 8.9% in the first quarter. Aperio Group LLC now owns 13,508 shares of the company’s stock valued at $873,000 after buying an additional 1,101 shares during the last quarter. Finally, Virginia Retirement System purchased a new stake in shares of Landstar System during the first quarter valued at $1,253,000.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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