Truist Financial Issues Pessimistic Forecast for Landstar System (NASDAQ:LSTR) Stock Price

Landstar System (NASDAQ:LSTR) had its price objective reduced by analysts at Truist Financial from $135.00 to $130.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Truist Financial’s price target indicates a potential upside of 3.71% from the stock’s current price.

Several other research firms have also commented on LSTR. Wall Street Zen lowered Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Barclays cut their price objective on Landstar System from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. UBS Group cut their price objective on Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus cut their price objective on Landstar System from $130.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and an average target price of $134.60.

Landstar System Trading Up 0.7%

Shares of LSTR opened at $125.35 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.34 billion, a P/E ratio of 31.98 and a beta of 0.82. The stock’s fifty day simple moving average is $128.25 and its 200 day simple moving average is $134.23. Landstar System has a twelve month low of $119.32 and a twelve month high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $1.41 earnings per share. On average, equities research analysts forecast that Landstar System will post 6.1 earnings per share for the current year.

Institutional Trading of Landstar System

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after purchasing an additional 319,101 shares in the last quarter. Norges Bank acquired a new position in Landstar System in the second quarter worth about $40,190,000. Fenimore Asset Management Inc grew its stake in Landstar System by 231.3% in the third quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after purchasing an additional 238,173 shares in the last quarter. Nuveen LLC acquired a new position in Landstar System in the first quarter worth about $34,540,000. Finally, Clarkston Capital Partners LLC acquired a new position in Landstar System in the second quarter worth about $27,217,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

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.