Landstar System (NASDAQ:LSTR) Price Target Cut to $130.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut Landstar System’s price target from $145 to $130 and maintained an “underweight” rating, implying 11.87% downside from the prior close.
• Analyst views are mixed but average to “Hold”: four rate the stock Buy, 12 Hold, and two Sell, with an average price target of $181.33.
• Landstar reported quarterly EPS of $1.42, below the $1.67 consensus estimate, while revenue of $1.51 billion slightly exceeded expectations and grew 25.4% year over year.

Landstar System (NASDAQ:LSTR - Get Free Report) had its target price reduced by equities researchers at Morgan Stanley from $145.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "underweight" rating on the transportation company's stock. Morgan Stanley's price target would suggest a potential downside of 11.87% from the stock's previous close.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Landstar System from $181.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, October 28th. UBS Group decreased their price objective on shares of Landstar System from $195.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 28th. Wolfe Research raised shares of Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 price objective on the stock in a research note on Tuesday, August 4th. Stephens dropped their target price on shares of Landstar System from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. Finally, Evercore set a $182.00 target price on shares of Landstar System in a research report on Wednesday, October 28th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $181.33.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded up $1.80 during trading on Wednesday, hitting $147.51. 82,282 shares of the stock were exchanged, compared to its average volume of 483,856. The company has a market cap of $4.97 billion, a PE ratio of 31.21 and a beta of 0.89. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $165.28 and a two-hundred day moving average price of $176.28. Landstar System has a 12-month low of $121.11 and a 12-month high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.25). The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, analysts forecast that Landstar System will post 5.97 EPS for the current year.

Insider Activity

In related news, CEO Frank A. Lonegro acquired 5,000 shares of Landstar System stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of $142.92 per share, for a total transaction of $714,600.00. Following the completion of the transaction, the chief executive officer directly owned 28,110 shares of the company's stock, valued at $4,017,481.20. The trade was a 21.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Landstar System during the 2nd quarter worth about $35,000. Trust Co. of Vermont purchased a new stake in shares of Landstar System during the second quarter worth about $41,000. Provenance Wealth Advisors LLC acquired a new position in shares of Landstar System in the third quarter valued at approximately $35,000. Elevation Wealth Partners LLC raised its position in shares of Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company's stock valued at $46,000 after buying an additional 66 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Landstar System in the third quarter valued at approximately $46,000. 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 arranges freight movement through an asset-light network of independent agents, business capacity owners, and third-party transportation providers. Rather than relying primarily on a company-owned fleet, Landstar connects customers with available transportation capacity and coordinates shipments through its network. The company offers truckload services, including van, flatbed, and specialized transportation, as well as less-than-truckload, expedited, and intermodal shipping.

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