Landstar System (NASDAQ:LSTR) Given New $160.00 Price Target at Susquehanna

Landstar System (NASDAQ:LSTR) had its target price cut by analysts at Susquehanna from $190.00 to $160.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna‘s price objective indicates a potential upside of 12.12% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Truist Financial lowered their price objective on Landstar System from $175.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday. Morgan Stanley lowered Landstar System from an “equal weight” rating to an “underweight” rating and set a $145.00 price objective for the company. in a research note on Monday, July 6th. Janney Montgomery Scott set a $182.00 target price on Landstar System in a report on Wednesday, July 29th. Finally, UBS Group decreased their target price on Landstar System from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $182.33.

Landstar System Stock Performance

LSTR opened at $142.70 on Monday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 30.23 and a beta of 0.89. Landstar System has a 52-week low of $121.11 and a 52-week high of $228.46. The firm’s fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $176.54.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. Equities analysts anticipate that Landstar System will post 5.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Capital LLC purchased a new stake in Landstar System during the 2nd quarter valued at about $21,043,000. Bank of America Corp DE lifted its stake in Landstar System by 13.4% in the 1st quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after purchasing an additional 29,595 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Landstar System in the 2nd quarter worth approximately $6,064,000. Engineers Gate Manager LP purchased a new position in Landstar System in the 2nd quarter worth approximately $1,485,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Landstar System during the 2nd quarter worth approximately $4,854,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Company Profile

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.