Landstar System (NASDAQ:LSTR) Price Target Cut to $158.00

Landstar System (NASDAQ:LSTR) had its price objective lowered by research analysts at The Goldman Sachs Group from $165.00 to $158.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 15.36% from the stock’s current price.

Several other research analysts have also issued reports on LSTR. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Evercore ISI cut their target price on shares of Landstar System from $167.00 to $165.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley dropped their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. TD Cowen raised their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Susquehanna raised their price objective on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $177.25.

Landstar System Trading Up 0.4 %

Shares of NASDAQ:LSTR traded up $0.66 during trading on Wednesday, reaching $186.68. The stock had a trading volume of 94,970 shares, compared to its average volume of 259,324. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 28.72 and a beta of 0.80. Landstar System has a 52 week low of $161.13 and a 52 week high of $201.40. The firm’s fifty day moving average is $184.43 and its 200 day moving average is $182.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. Landstar System’s revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, equities analysts forecast that Landstar System will post 5.87 EPS for the current fiscal year.

Institutional Trading of Landstar System

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after buying an additional 99,461 shares during the last quarter. Boston Partners increased its holdings in Landstar System by 1.0% during the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after buying an additional 15,424 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after buying an additional 37,020 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Landstar System by 2.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after buying an additional 10,538 shares during the last quarter. Hedge funds and other institutional investors own 97.95% 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, such as third party logistics and less-than-truckload services.