Landstar System (NASDAQ:LSTR) Upgraded to “Buy” by BidaskClub
Several other research analysts also recently issued reports on LSTR. Morgan Stanley upped their price target on shares of Landstar System from $67.00 to $70.00 and gave the stock an “underweight” rating in a report on Monday, July 27th. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, July 21st. Credit Suisse Group increased their price objective on Landstar System from $103.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, July 24th. SunTrust Banks increased their price objective on Landstar System from $100.00 to $115.00 and gave the company a “hold” rating in a report on Friday, July 17th. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $114.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $113.82.
Shares of NASDAQ:LSTR traded down $2.07 during trading on Friday, hitting $121.78. 362,129 shares of the company were exchanged, compared to its average volume of 324,777. The business’s 50 day moving average is $113.91 and its 200-day moving average is $108.06. The company has a market capitalization of $4.67 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The company has a quick ratio of 1.76, a current ratio of 1.77 and a debt-to-equity ratio of 0.09. Landstar System has a 1-year low of $85.30 and a 1-year high of $126.13.
In other news, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $115.24, for a total transaction of $576,200.00. Following the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $4,830,399.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana M. Murphy sold 8,000 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $122.45, for a total transaction of $979,600.00. Following the transaction, the director now directly owns 24,947 shares in the company, valued at approximately $3,054,760.15. The disclosure for this sale can be found here. Insiders have sold 19,678 shares of company stock worth $2,307,542 in the last ninety days. Insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in shares of Landstar System by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the transportation company’s stock worth $1,078,000 after purchasing an additional 100 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Landstar System by 19.8% during the 1st quarter. Synovus Financial Corp now owns 713 shares of the transportation company’s stock worth $66,000 after purchasing an additional 118 shares in the last quarter. Signaturefd LLC boosted its position in shares of Landstar System by 43.8% during the 1st quarter. Signaturefd LLC now owns 404 shares of the transportation company’s stock worth $39,000 after purchasing an additional 123 shares in the last quarter. Ellevest Inc. boosted its position in shares of Landstar System by 53.9% during the 1st quarter. Ellevest Inc. now owns 437 shares of the transportation company’s stock worth $42,000 after purchasing an additional 153 shares in the last quarter. Finally, Smithfield Trust Co. raised its holdings in shares of Landstar System by 12.3% in the 1st quarter. Smithfield Trust Co. now owns 1,671 shares of the transportation company’s stock worth $160,000 after acquiring an additional 183 shares during the last quarter.
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 service providers.
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