Landstar System Inc. (LSTR) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Landstar System Inc. (NASDAQ:LSTR) posted its quarterly earnings data on Wednesday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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%.
Landstar System (NASDAQ:LSTR) remained flat at $65.75 on Wednesday. 752,754 shares of the company’s stock were exchanged. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 20.32 and a beta of 0.80. Landstar System has a 12 month low of $53.03 and a 12 month high of $72.97. The firm’s 50-day moving average price is $67.29 and its 200 day moving average price is $67.44.
In related news, CMO Patrick J. O’malley sold 1,787 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now owns 40,237 shares in the company, valued at $2,783,193.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of LSTR. BlueMountain Capital Management LLC raised its position in shares of Landstar System by 227.3% in the second quarter. BlueMountain Capital Management LLC now owns 43,854 shares of the company’s stock worth $3,011,000 after buying an additional 30,457 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Landstar System during the second quarter worth $542,000. Sei Investments Co. raised its position in shares of Landstar System by 155.2% in the second quarter. Sei Investments Co. now owns 19,279 shares of the company’s stock worth $1,324,000 after buying an additional 11,726 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Landstar System by 173.7% in the second quarter. Janney Montgomery Scott LLC now owns 23,104 shares of the company’s stock worth $1,586,000 after buying an additional 14,663 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Landstar System by 1.7% in the second quarter. Comerica Bank now owns 29,973 shares of the company’s stock worth $2,079,000 after buying an additional 507 shares during the last quarter.
LSTR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. cut 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. Finally, Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $62.66.
Landstar System Company Profile
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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