JPMorgan Chase & Co. Has Lowered Expectations for Landstar System (NASDAQ:LSTR) Stock Price

Key Points

• JPMorgan lowered Landstar System’s price target from $204 to $181 while maintaining a “neutral” rating, implying approximately 5.42% upside from the stock’s $171.69 trading price.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $194.36, with 11 analysts recommending hold compared with four buy/strong-buy ratings and two sells.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year and above estimates, but earnings per share of $1.44 missed the $1.49 consensus forecast; institutional investors own nearly 98% of the company’s stock.

Landstar System (NASDAQ:LSTR - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $204.00 to $181.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 5.42% from the company's current price.

LSTR has been the subject of a number of other research reports. Wall Street Zen lowered Landstar System from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a research report on Wednesday, July 29th. TD Cowen dropped their price objective on shares of Landstar System from $182.00 to $178.00 and set a "hold" rating on the stock in a research note on Tuesday, July 28th. Barclays boosted their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Finally, Stephens raised Landstar System to a "strong-buy" rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $194.36.

Landstar System Price Performance

NASDAQ:LSTR traded down $1.78 during trading hours on Monday, reaching $171.69. 68,671 shares of the company's stock were exchanged, compared to its average volume of 491,195. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System has a 12 month low of $121.11 and a 12 month high of $228.46. The company has a market capitalization of $5.83 billion, a P/E ratio of 44.38 and a beta of 0.90. The business's 50-day simple moving average is $176.96 and its two-hundred day simple moving average is $185.56.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the company posted $1.20 earnings per share. Landstar System's quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts expect that Landstar System will post 5.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

Institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Capital LLC bought a new stake in shares of Landstar System during the second quarter worth approximately $21,043,000. Manatuck Hill Partners LLC bought a new stake in shares of Landstar System during the 4th quarter valued at $862,000. Bank of America Corp DE lifted its stake in shares of Landstar System by 13.4% in the 1st quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company's stock valued at $40,095,000 after purchasing an additional 29,595 shares during the period. Norges Bank bought a new position in shares of Landstar System in the 4th quarter worth $35,280,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Landstar System during the second quarter worth $6,064,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Company Profile

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar's services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.

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