Zacks Research Upgrades Landstar System (NASDAQ:LSTR) to Hold

Key Points

• Zacks Research upgraded Landstar System from a "strong sell" rating to a "hold" rating, reflecting a more cautious outlook.
• Recent analyst reports have cut the price targets for Landstar System, with the consensus target now set at $145.17.
• Landstar System's latest quarterly earnings exceeded estimates, reporting $1.20 per share and $1.21 billion in revenue, although revenue was down 1.1% from the previous year.

Landstar System (NASDAQ:LSTR - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. UBS Group cut their price target on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Evercore ISI lowered their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a research report on Wednesday, July 30th. Robert W. Baird started coverage on shares of Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research report on Thursday, July 31st. Finally, Susquehanna set a $123.00 price objective on shares of Landstar System and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $145.17.

Landstar System Stock Down 0.5%

Landstar System stock opened at $130.94 on Monday. Landstar System has a fifty-two week low of $123.43 and a fifty-two week high of $196.86. The stock has a market cap of $4.54 billion, a PE ratio of 27.45 and a beta of 0.84. The firm's 50-day simple moving average is $134.98 and its 200 day simple moving average is $139.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results 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 net margin of 3.51% and a return on equity of 17.49%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts predict that Landstar System will post 6.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

Several hedge funds have recently bought and sold shares of LSTR. First Horizon Advisors Inc. lifted its stake in shares of Landstar System by 35.3% in the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after purchasing an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Landstar System by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock worth $465,000 after purchasing an additional 85 shares during the period. State of Michigan Retirement System lifted its stake in shares of Landstar System by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock worth $1,272,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Landstar System by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock worth $1,487,000 after purchasing an additional 100 shares during the period. Finally, Securian Asset Management Inc. lifted its stake in shares of Landstar System by 3.8% in the 1st quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company's stock worth $412,000 after purchasing an additional 100 shares during the period. Hedge funds and other 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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