JPMorgan Chase & Co. Lowers Landstar System (NASDAQ:LSTR) Price Target to $138.00

Landstar System (NASDAQ:LSTR - Get Free Report) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $139.00 to $138.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 5.30% from the stock's previous close.

LSTR has been the subject of several other research reports. Stifel Nicolaus dropped their target price on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Susquehanna reiterated a "neutral" rating and issued a $125.00 target price (up previously from $120.00) on shares of Landstar System in a report on Tuesday, June 24th. Wall Street Zen raised shares of Landstar System from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Robert W. Baird began coverage on shares of Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price target for the company. Finally, Truist Financial decreased their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $151.31.

Landstar System Trading Up 2.0%

Shares of NASDAQ LSTR traded up $2.83 during midday trading on Tuesday, reaching $145.73. 686,006 shares of the stock were exchanged, compared to its average volume of 306,729. The company has a 50 day simple moving average of $139.57 and a 200 day simple moving average of $150.76. The stock has a market capitalization of $5.09 billion, a P/E ratio of 28.86 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. Landstar System has a twelve month low of $128.99 and a twelve month high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. As a group, equities analysts expect that Landstar System will post 6.1 earnings per share for the current year.

Hedge Funds Weigh In On Landstar System

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alpine Bank Wealth Management purchased a new position in Landstar System in the first quarter valued at about $25,000. HM Payson & Co. acquired a new stake in shares of Landstar System during the fourth quarter worth $26,000. Colonial Trust Co SC boosted its holdings in shares of Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock valued at $37,000 after acquiring an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company's stock valued at $39,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Company Profile

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.