Benchmark Reaffirms Hold Rating for Landstar System (NASDAQ:LSTR)

Landstar System (NASDAQ:LSTR)‘s stock had its “hold” rating reissued by Benchmark in a note issued to investors on Thursday,Benzinga reports.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Susquehanna decreased their target price on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. TD Cowen reduced their price objective on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Truist Financial lowered their target price on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $160.45.

Landstar System Trading Down 1.4 %

LSTR opened at $136.64 on Thursday. The business’s 50-day simple moving average is $156.41 and its 200-day simple moving average is $172.43. The company has a market cap of $4.83 billion, a P/E ratio of 24.75 and a beta of 0.82. Landstar System has a one year low of $132.41 and a one year high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. As a group, equities research analysts expect that Landstar System will post 6.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Landstar System by 16.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after purchasing an additional 521,695 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Landstar System in the 4th quarter valued at approximately $63,816,000. Norges Bank purchased a new stake in shares of Landstar System in the fourth quarter valued at approximately $54,088,000. Corient Private Wealth LLC grew its holdings in Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after acquiring an additional 271,417 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in Landstar System by 116.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock worth $47,205,000 after acquiring an additional 147,756 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Company Profile

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.