Landstar System (NASDAQ:LSTR) Upgraded by Robert W. Baird to Outperform


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Landstar System (NASDAQ:LSTR) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Tuesday, AnalystRatings.net reports. The brokerage currently has a $164.00 price objective on the transportation company’s stock, up from their prior price objective of $145.00. Robert W. Baird’s price target indicates a potential upside of 10.81% from the stock’s current price.

LSTR has been the subject of a number of other reports. Wells Fargo & Company started coverage on shares of Landstar System in a research report on Wednesday, September 23rd. They issued an “equal weight” rating and a $135.00 price target for the company. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, December 17th. Cowen reissued a “hold” rating on shares of Landstar System in a research note on Friday, September 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Landstar System from $120.00 to $132.00 and gave the stock a “hold” rating in a research note on Monday, November 30th. Finally, Truist boosted their price objective on shares of Landstar System from $120.00 to $130.00 in a research note on Thursday, September 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $130.00.

NASDAQ LSTR opened at $148.00 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. Landstar System has a 1-year low of $85.30 and a 1-year high of $150.43. The company has a 50 day moving average of $136.06 and a 200-day moving average of $128.75. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.17 and a beta of 1.01.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, October 21st. The transportation company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.18. Landstar System had a net margin of 4.62% and a return on equity of 28.19%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. On average, equities research analysts forecast that Landstar System will post 5.29 earnings per share for the current year.

In other news, CEO James B. Gattoni sold 20,000 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $130.03, for a total transaction of $2,600,600.00. Following the transaction, the chief executive officer now owns 77,171 shares in the company, valued at $10,034,545.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO L Kevin Stout sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $129.92, for a total transaction of $1,299,200.00. Following the transaction, the chief financial officer now owns 28,861 shares in the company, valued at approximately $3,749,621.12. The disclosure for this sale can be found here. Insiders have sold 43,100 shares of company stock worth $5,602,931 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp raised its position in Landstar System by 0.5% in the 3rd quarter. Truist Financial Corp now owns 15,250 shares of the transportation company’s stock worth $1,914,000 after purchasing an additional 83 shares during the period. LPL Financial LLC grew its holdings in Landstar System by 1.2% in the 3rd quarter. LPL Financial LLC now owns 8,244 shares of the transportation company’s stock worth $1,035,000 after acquiring an additional 94 shares during the last quarter. Ellevest Inc. grew its holdings in Landstar System by 16.6% in the 3rd quarter. Ellevest Inc. now owns 998 shares of the transportation company’s stock worth $125,000 after acquiring an additional 142 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Landstar System by 2.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,364 shares of the transportation company’s stock worth $799,000 after acquiring an additional 164 shares during the last quarter. Finally, CI Investments Inc. bought a new stake in Landstar System in the 3rd quarter worth $25,000. Institutional investors own 92.89% of the company’s stock.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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 service providers.

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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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