Landstar System (NASDAQ:LSTR) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of Landstar System from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Wells Fargo & Co raised shares of Landstar System from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $115.65 to $98.00 in a report on Wednesday, August 22nd. Stifel Nicolaus raised shares of Landstar System from a “hold” rating to a “buy” rating and boosted their price objective for the company from $123.00 to $128.00 in a report on Monday, July 30th. KeyCorp reissued a “buy” rating and set a $130.00 price objective (up from $125.00) on shares of Landstar System in a report on Thursday, July 26th. Finally, Cowen reissued a “market perform” rating and set a $113.00 price objective (up from $108.00) on shares of Landstar System in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $119.25.

NASDAQ LSTR opened at $124.60 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System has a 12-month low of $93.75 and a 12-month high of $128.70. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.54 and a beta of 0.87.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.02). Landstar System had a return on equity of 31.06% and a net margin of 5.38%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. Landstar System’s revenue for the quarter was up 35.9% compared to the same quarter last year. sell-side analysts anticipate that Landstar System will post 6.07 EPS for the current year.

In other news, COO Joseph J. Beacom sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total transaction of $358,560.00. Following the sale, the chief operating officer now directly owns 33,702 shares of the company’s stock, valued at $4,028,063.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LSTR. Bank of New York Mellon Corp lifted its position in Landstar System by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock valued at $60,484,000 after purchasing an additional 20,564 shares during the period. Public Employees Retirement System of Ohio lifted its position in Landstar System by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 133,380 shares of the transportation company’s stock valued at $14,565,000 after purchasing an additional 1,886 shares during the period. GHP Investment Advisors Inc. lifted its position in Landstar System by 2.7% during the second quarter. GHP Investment Advisors Inc. now owns 47,788 shares of the transportation company’s stock valued at $5,218,000 after purchasing an additional 1,243 shares during the period. California Public Employees Retirement System lifted its position in Landstar System by 10.6% during the second quarter. California Public Employees Retirement System now owns 131,410 shares of the transportation company’s stock valued at $14,350,000 after purchasing an additional 12,592 shares during the period. Finally, PEAK6 Investments L.P. lifted its position in Landstar System by 68.7% during the second quarter. PEAK6 Investments L.P. now owns 5,875 shares of the transportation company’s stock valued at $642,000 after purchasing an additional 2,393 shares during the period. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

About Landstar System

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, including third party logistics and less-than-truckload service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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