Buckingham Research Lowers Landstar System (LSTR) Price Target to $121.00
Landstar System (NASDAQ:LSTR) had its target price decreased by Buckingham Research from $127.00 to $121.00 in a report issued on Friday morning. Buckingham Research currently has a neutral rating on the transportation company’s stock.
Several other research firms have also issued reports on LSTR. ValuEngine upgraded shares of Landstar System from a hold rating to a buy rating in a report on Tuesday, September 11th. BidaskClub lowered shares of Landstar System from a strong-buy rating to a buy rating in a report on Friday, September 14th. Wolfe Research lowered shares of Landstar System from a peer perform rating to an underperform rating in a report on Friday, October 5th. Wells Fargo & Co upgraded shares of Landstar System from a market perform rating to an outperform rating and lowered their price target for the stock from $115.65 to $98.00 in a report on Wednesday, August 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Landstar System in a report on Tuesday, June 19th. They set a hold rating and a $123.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $118.42.
Landstar System stock traded up $0.61 during mid-day trading on Friday, hitting $106.88. 539,256 shares of the stock were exchanged, compared to its average volume of 335,794. 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 $94.80 and a 12 month high of $128.70. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.49 and a beta of 0.87.
In other news, COO Joseph J. Beacom sold 3,000 shares of Landstar System stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total value of $358,560.00. Following the completion of the sale, the chief operating officer now owns 33,702 shares in the company, valued at approximately $4,028,063.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in shares of Landstar System by 6.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 73,592 shares of the transportation company’s stock valued at $8,036,000 after acquiring an additional 4,567 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Landstar System by 22.7% during the 2nd quarter. Laurion Capital Management LP now owns 22,699 shares of the transportation company’s stock worth $2,479,000 after purchasing an additional 4,199 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Landstar System by 4.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,380 shares of the transportation company’s stock worth $1,789,000 after purchasing an additional 650 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Landstar System by 1.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 133,380 shares of the transportation company’s stock worth $14,565,000 after purchasing an additional 1,886 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in shares of Landstar System by 17.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 11,465 shares of the transportation company’s stock worth $1,252,000 after purchasing an additional 1,720 shares during the period. Institutional investors own 97.30% of the company’s stock.
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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