Landstar System Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 analysts have also weighed in on the stock. Oppenheimer Holdings Inc. lowered shares of Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Citigroup Inc. lowered shares of Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $62.66.
Shares of Landstar System (NASDAQ:LSTR) opened at 66.89 on Tuesday. The firm has a market capitalization of $2.82 billion, a P/E ratio of 20.67 and a beta of 0.80. Landstar System has a 52 week low of $53.03 and a 52 week high of $72.97. The firm’s 50-day moving average is $67.92 and its 200 day moving average is $67.39.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $790.95 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. Equities research analysts forecast that Landstar System will post $3.08 EPS for the current fiscal year.
In other news, CMO Patrick J. O’malley sold 1,787 shares of Landstar System 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 $2,783,193.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
A number of large investors have recently bought and sold shares of LSTR. Atlanta Capital Management Co. L L C boosted its stake in Landstar System by 21.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,623,600 shares of the company’s stock valued at $169,511,000 after buying an additional 456,602 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Landstar System by 17.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,608,687 shares of the company’s stock valued at $110,452,000 after buying an additional 244,393 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Landstar System by 84.9% in the first quarter. UBS Asset Management Americas Inc. now owns 515,305 shares of the company’s stock valued at $33,294,000 after buying an additional 236,652 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Landstar System by 30.2% in the first quarter. JPMorgan Chase & Co. now owns 966,763 shares of the company’s stock valued at $62,463,000 after buying an additional 224,149 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Landstar System by 2.6% in the first quarter. Wellington Management Group LLP now owns 3,602,864 shares of the company’s stock valued at $232,781,000 after buying an additional 91,503 shares in the last quarter.
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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