Landstar System (NASDAQ:LSTR) Price Target Lowered to $165.00 at Evercore ISI

Landstar System (NASDAQ:LSTR) had its target price lowered by research analysts at Evercore ISI from $167.00 to $165.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective points to a potential downside of 6.86% from the company’s current price.

Other research analysts have also issued research reports about the company. TD Cowen increased their price target on Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley cut their target price on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Raymond James reduced their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $179.00.

Landstar System Stock Down 2.3 %

Landstar System stock opened at $177.15 on Thursday. The company has a market capitalization of $6.34 billion, a PE ratio of 27.25 and a beta of 0.80. Landstar System has a 12-month low of $161.13 and a 12-month high of $201.40. The firm’s fifty day moving average is $184.75 and its 200 day moving average is $182.66. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business’s revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. As a group, sell-side analysts predict that Landstar System will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

Several hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC lifted its holdings in Landstar System by 137.0% during the fourth quarter. Hsbc Holdings PLC now owns 8,028 shares of the transportation company’s stock worth $1,556,000 after acquiring an additional 4,641 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Landstar System by 13.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,443 shares of the transportation company’s stock worth $473,000 after purchasing an additional 291 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Landstar System by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 15,857 shares of the transportation company’s stock worth $3,071,000 after buying an additional 150 shares during the last quarter. First Trust Advisors LP grew its position in Landstar System by 3.6% during the fourth quarter. First Trust Advisors LP now owns 198,931 shares of the transportation company’s stock valued at $38,523,000 after buying an additional 6,986 shares during the period. Finally, Pinebridge Investments L.P. increased its holdings in Landstar System by 320.7% during the fourth quarter. Pinebridge Investments L.P. now owns 5,911 shares of the transportation company’s stock worth $1,145,000 after buying an additional 4,506 shares during the last quarter. 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.