TD Cowen Lowers Landstar System (NASDAQ:LSTR) Price Target to $145.00

Landstar System (NASDAQ:LSTR) had its price target cut by investment analysts at TD Cowen from $161.00 to $145.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price would indicate a potential upside of 6.12% from the company’s previous close.

LSTR has been the subject of a number of other research reports. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Truist Financial began coverage on shares of Landstar System in a research report on Thursday, March 13th. They issued a “hold” rating and a $160.00 target price for the company. Susquehanna reduced their price objective on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, March 26th. Stifel Nicolaus raised their price objective on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $160.45.

Landstar System Trading Down 1.4 %

NASDAQ: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. Landstar System has a fifty-two week low of $132.41 and a fifty-two week high of $196.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The stock has a market capitalization of $4.83 billion, a PE ratio of 24.75 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results 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 net margin of 4.07% and a return on equity of 19.56%. Sell-side analysts expect that Landstar System will post 6.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Landstar System

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after buying an additional 521,695 shares during the last quarter. Victory Capital Management Inc. lifted its position in Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after acquiring an additional 11,146 shares during the last quarter. State Street Corp boosted its holdings in shares of Landstar System by 1.4% during the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares during the period. Geode Capital Management LLC increased its stake in shares of Landstar System by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock worth $140,602,000 after purchasing an additional 4,392 shares during the period. Finally, Northern Trust Corp lifted its holdings in Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock worth $115,624,000 after purchasing an additional 90,672 shares during the last quarter. 97.95% of the stock is owned by 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, such as third party logistics and less-than-truckload services.