Zacks Investment Research Upgrades Landstar System, Inc. (LSTR) to “Buy”
Landstar System, Inc. (NASDAQ:LSTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $111.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.45% from the stock’s previous close.
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. “
Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus raised shares of Landstar System from a “hold” rating to a “buy” rating and increased their price objective for the stock from $87.00 to $95.00 in a research report on Monday, July 31st. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Cowen and Company reissued a “hold” rating and issued a $86.00 price objective on shares of Landstar System in a research report on Monday, August 28th. Morgan Stanley increased their price objective on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Finally, KeyCorp restated a “buy” rating and issued a $110.00 target price on shares of Landstar System in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $93.10.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The company had revenue of $870.34 million during the quarter, compared to analyst estimates of $859.30 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of LSTR. BlackRock Inc. lifted its position in shares of Landstar System by 7,684.2% in the 1st quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after buying an additional 4,035,361 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Landstar System in the 2nd quarter worth about $57,249,000. FMR LLC lifted its position in shares of Landstar System by 64.7% in the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after buying an additional 475,220 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Landstar System in the 2nd quarter worth about $339,000. Finally, Alliancebernstein L.P. lifted its position in shares of Landstar System by 641.1% in the 2nd quarter. Alliancebernstein L.P. now owns 192,125 shares of the transportation company’s stock worth $16,446,000 after buying an additional 166,201 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.
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.
Receive News & Ratings for Landstar System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.