Landstar System (NASDAQ:LSTR) Stock Gets Price Target Reduction from Wells Fargo & Company

Key Points

• Wells Fargo lowered Landstar System’s price target from $225 to $215 while maintaining an “overweight” rating, implying roughly 51% upside from the cited $142 share price.
• Analyst sentiment is mixed: four analysts rate the stock Buy, twelve Hold, and two Sell, producing an overall “Hold” consensus and an average price target of $189.20.
• Landstar reported third-quarter revenue of $1.51 billion, up 25% year over year and slightly above estimates, but adjusted EPS of $1.42 missed the $1.67 consensus. Shares fell $26.78 to $142 during Wednesday trading.

Landstar System (NASDAQ:LSTR - Get Free Report) had its price objective lowered by investment analysts at Wells Fargo & Company from $225.00 to $215.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price target indicates a potential upside of 51.41% from the company's current price.

A number of other equities analysts have also commented on LSTR. TD Cowen cut their price objective on shares of Landstar System from $182.00 to $178.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Raymond James Financial reaffirmed a "market perform" rating on shares of Landstar System in a report on Wednesday. Wolfe Research upgraded shares of Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 target price on the stock in a research note on Tuesday, August 4th. Stephens reissued an "overweight" rating and issued a $210.00 price target (down from $215.00) on shares of Landstar System in a report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Landstar System from $147.00 to $168.00 and gave the company a "sell" rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $189.20.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded down $26.78 during trading on Wednesday, hitting $142.00. 88,587 shares of the company were exchanged, compared to its average volume of 475,823. The company has a market cap of $4.82 billion, a PE ratio of 37.09 and a beta of 0.90. The stock has a 50 day moving average of $172.65 and a 200 day moving average of $176.75. Landstar System has a 52-week low of $121.11 and a 52-week high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.67 by ($0.25). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. Sell-side analysts forecast that Landstar System will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

Several institutional investors have recently modified their holdings of LSTR. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Landstar System during the second quarter worth approximately $35,000. Trust Co. of Vermont purchased a new stake in shares of Landstar System in the 2nd quarter valued at $41,000. Essential Partners LLC boosted its stake in shares of Landstar System by 58.3% in the 1st quarter. Essential Partners LLC now owns 277 shares of the transportation company's stock valued at $44,000 after purchasing an additional 102 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company's stock valued at $46,000 after purchasing an additional 66 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Landstar System during the 3rd quarter valued at $46,000. 97.95% of the stock is currently owned by institutional investors.

Trending Headlines about Landstar System

Here are the key news stories impacting Landstar System this week:

• Positive Sentiment: Landstar reported third-quarter revenue of $1.512 billion, up 25% year over year and slightly ahead of the $1.50 billion consensus estimate. Gross profit increased 14%, while variable contribution rose 25%, indicating solid freight-volume and operating improvement. Landstar third-quarter results
• Positive Sentiment: The company declared a quarterly dividend of $0.44 per share, or $1.76 annualized, representing an approximately 1.0% yield. The dividend provides ongoing shareholder returns, although the ex-dividend date is November 17.
• Positive Sentiment: Robert W. Baird maintained an Outperform rating and lowered its price target from $215 to $195. Despite the reduction, the new target implies approximately 15.5% upside from the referenced price. Robert W. Baird rating

Landstar System Company Profile

Landstar System, Inc NASDAQ: LSTR is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar's services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.

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