Landstar System (NASDAQ:LSTR) Rating Lowered to Market Perform at Raymond James

Landstar System (NASDAQ:LSTR) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat Ratings reports.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stephens decreased their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Evercore ISI dropped their price objective on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Finally, UBS Group lifted their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat, Landstar System presently has an average rating of “Hold” and an average target price of $174.25.

Landstar System Trading Down 2.4 %

NASDAQ LSTR opened at $182.82 on Friday. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System has a one year low of $165.39 and a one year high of $201.40. The company’s 50 day moving average price is $183.98 and its 200 day moving average price is $183.38.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $1.71 EPS. The business’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts predict that Landstar System will post 5.57 EPS for the current year.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the sale, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

A number of hedge funds and other institutional investors have recently bought and sold shares of LSTR. Massmutual Trust Co. FSB ADV boosted its stake in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Quest Partners LLC acquired a new stake in Landstar System in the 2nd quarter valued at approximately $73,000. Mather Group LLC. raised its stake in Landstar System by 183.5% during the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 358 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Company Profile

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, such as third party logistics and less-than-truckload services.