BidaskClub Upgrades Landstar System (LSTR) to Buy

BidaskClub upgraded shares of Landstar System (NASDAQ:LSTR) from a hold rating to a buy rating in a research note published on Saturday, March 30th, BidAskClub reports.

Several other equities analysts also recently commented on the stock. Buckingham Research set a $115.00 target price on shares of Landstar System and gave the stock a hold rating in a research report on Saturday, February 2nd. SunTrust Banks initiated coverage on shares of Landstar System in a report on Wednesday, December 12th. They set a hold rating and a $105.00 price target for the company. Cowen reiterated a hold rating and issued a $100.00 target price on shares of Landstar System in a research note on Wednesday, January 30th. Finally, Zacks Investment Research cut shares of Landstar System from a hold rating to a sell rating in a research note on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Landstar System presently has an average rating of Hold and a consensus target price of $111.70.

NASDAQ:LSTR traded down $0.19 during trading hours on Friday, hitting $111.89. 416,186 shares of the stock traded hands, compared to its average volume of 289,232. Landstar System has a fifty-two week low of $90.23 and a fifty-two week high of $128.70. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.49 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 30th. The transportation company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.10. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 5.53% and a return on equity of 36.70%. Landstar System’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 earnings per share. Equities research analysts anticipate that Landstar System will post 6.41 earnings per share for the current year.

In other news, CEO James B. Gattoni sold 19,481 shares of Landstar System stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $110.68, for a total transaction of $2,156,157.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO L Kevin Stout sold 6,000 shares of Landstar System stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $110.99, for a total transaction of $665,940.00. Following the transaction, the chief financial officer now directly owns 47,204 shares in the company, valued at $5,239,171.96. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Intercontinental Wealth Advisors LLC acquired a new stake in Landstar System in the 4th quarter valued at $50,000. Essex Savings Bank acquired a new position in shares of Landstar System during the 4th quarter worth about $67,000. Penserra Capital Management LLC acquired a new position in shares of Landstar System during the 4th quarter worth about $79,000. Quantamental Technologies LLC acquired a new position in Landstar System in the 4th quarter valued at about $116,000. Finally, Tower Research Capital LLC TRC grew its stake in Landstar System by 205.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,471 shares of the transportation company’s stock valued at $179,000 after buying an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 98.65% 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 service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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