Landstar System (NASDAQ:LSTR) Hits New 1-Year Low - Here's Why

Shares of Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $129.57 and last traded at $134.15, with a volume of 479302 shares trading hands. The stock had previously closed at $135.02.

Wall Street Analysts Forecast Growth

LSTR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Stifel Nicolaus reduced their price objective on Landstar System from $162.00 to $147.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. TD Cowen lowered their target price on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Truist Financial dropped their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna decreased their target price on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $155.67.

Landstar System Stock Down 0.8 %

The firm's 50 day simple moving average is $144.90 and its two-hundred day simple moving average is $164.92. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 24.52 and a beta of 0.88. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Institutional Trading of Landstar System

A number of institutional investors have recently bought and sold shares of LSTR. Tidal Investments LLC increased its position in shares of Landstar System by 9.3% during the third quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company's stock valued at $1,899,000 after acquiring an additional 857 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Landstar System by 28.1% during the third quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company's stock valued at $11,000,000 after buying an additional 12,756 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Landstar System by 10.8% in the fourth quarter. Fulton Bank N.A. now owns 2,100 shares of the transportation company's stock valued at $361,000 after acquiring an additional 204 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Landstar System by 1.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,865 shares of the transportation company's stock valued at $1,524,000 after purchasing an additional 114 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Landstar System during the fourth quarter valued at approximately $34,000. Institutional investors own 97.95% of the company's stock.

About Landstar System

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.