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

Key Points

• JPMorgan Chase & Co. has lowered its target price for Landstar System (NASDAQ:LSTR) from $147.00 to $138.00, maintaining a "neutral" rating, which suggests a potential upside of 5.37% from the current price.
• The stock has seen a significant fluctuation, with a one-year low of $119.32 and a high of $196.86, and currently trades at $130.97 after gaining $7.02 in recent trading.
• Institutional investors hold a substantial 97.95% of Landstar System stock, with notable increases in holdings from various hedge funds during the second quarter.

Landstar System (NASDAQ:LSTR - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $147.00 to $138.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 5.37% from the company's current price.

LSTR has been the subject of several other research reports. Robert W. Baird started coverage on Landstar System in a report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Landstar System in a report on Wednesday. Barclays reduced their target price on Landstar System from $145.00 to $135.00 and set an "equal weight" rating for the company in a report on Thursday, October 2nd. Stifel Nicolaus reduced their target price on Landstar System from $131.00 to $130.00 and set a "hold" rating for the company in a report on Friday, October 3rd. Finally, Zacks Research raised Landstar System from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $143.67.

Landstar System Stock Performance

LSTR traded up $7.02 during trading hours on Wednesday, hitting $130.97. The stock had a trading volume of 705,241 shares, compared to its average volume of 376,294. The company's fifty day simple moving average is $128.55 and its 200 day simple moving average is $135.88. Landstar System has a 1 year low of $119.32 and a 1 year high of $196.86. The stock has a market cap of $4.54 billion, a PE ratio of 27.46 and a beta of 0.82. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $1.48 EPS. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that Landstar System will post 6.1 earnings per share for the current year.

Hedge Funds Weigh In On Landstar System

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC raised its holdings in shares of Landstar System by 23.5% during the second quarter. Corient Private Wealth LLC now owns 360,438 shares of the transportation company's stock valued at $50,108,000 after acquiring an additional 68,659 shares in the last quarter. Osaic Holdings Inc. grew its stake in Landstar System by 54.7% in the second quarter. Osaic Holdings Inc. now owns 662 shares of the transportation company's stock worth $92,000 after purchasing an additional 234 shares during the period. Squarepoint Ops LLC purchased a new stake in Landstar System in the second quarter worth $1,671,000. State of Wyoming purchased a new stake in Landstar System in the second quarter worth $243,000. Finally, Hudson Bay Capital Management LP grew its stake in Landstar System by 2.8% in the second quarter. Hudson Bay Capital Management LP now owns 12,154 shares of the transportation company's stock worth $1,690,000 after purchasing an additional 331 shares during the period. Institutional investors 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.

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