Short Interest in Landstar System, Inc. (NASDAQ:LSTR) Declines By 19.5%

Landstar System, Inc. (NASDAQ:LSTR) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 981,900 shares, a decrease of 19.5% from the March 15th total of 1,220,000 shares. Based on an average daily trading volume, of 355,100 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.8% of the company’s shares are sold short.

Landstar System Stock Performance

Shares of LSTR stock traded down $1.38 during mid-day trading on Tuesday, reaching $134.15. 18,768 shares of the company’s stock traded hands, compared to its average volume of 282,125. Landstar System has a 12 month low of $128.99 and a 12 month high of $196.86. The firm has a 50 day moving average price of $149.15 and a two-hundred day moving average price of $168.12. The firm has a market capitalization of $4.69 billion, a PE ratio of 24.30 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. On average, research analysts forecast that Landstar System will post 6.1 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on LSTR. Truist Financial dropped their target price on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Monday, April 14th. Stifel Nicolaus reduced their price target on shares of Landstar System from $162.00 to $147.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Susquehanna dropped their target price on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average target price of $156.92.

Hedge Funds Weigh In On Landstar System

A number of hedge funds have recently made changes to their positions in LSTR. Golden State Wealth Management LLC purchased a new position in shares of Landstar System in the fourth quarter worth $25,000. HM Payson & Co. bought a new stake in shares of Landstar System in the fourth quarter worth about $26,000. Colonial Trust Co SC boosted its stake in Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after buying an additional 71 shares during the last quarter. Trust Co. of Vermont bought a new stake in Landstar System in the 4th quarter worth approximately $34,000. Finally, BOKF NA grew its holdings in shares of Landstar System by 56.1% in the fourth quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 125 shares in 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.