Landstar System (NASDAQ:LSTR) Given New $85.00 Price Target at Morgan Stanley

Landstar System (NASDAQ:LSTR) had its price objective decreased by Morgan Stanley from $90.00 to $85.00 in a research note issued to investors on Monday, January 6th, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the transportation company’s stock.

Several other brokerages also recently issued reports on LSTR. Credit Suisse Group set a $103.00 price objective on Landstar System and gave the company a hold rating in a research report on Sunday, September 15th. Buckingham Research cut their price objective on shares of Landstar System from $115.00 to $113.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Cowen restated a hold rating and set a $118.00 target price on shares of Landstar System in a report on Wednesday, December 11th. Goldman Sachs Group assumed coverage on Landstar System in a report on Thursday, December 5th. They issued a sell rating and a $105.00 price target on the stock. Finally, BidaskClub lowered Landstar System from a hold rating to a sell rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $113.15.

NASDAQ:LSTR traded up $0.88 during midday trading on Monday, hitting $118.57. 1,482 shares of the stock were exchanged, compared to its average volume of 194,589. Landstar System has a one year low of $94.97 and a one year high of $120.23. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.60 and a beta of 1.24. The business has a 50-day moving average price of $112.46 and a two-hundred day moving average price of $111.69. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.08.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Landstar System had a return on equity of 33.90% and a net margin of 5.76%. Landstar System’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Sell-side analysts forecast that Landstar System will post 5.87 EPS for the current fiscal year.

The business also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $2.00 dividend. The ex-dividend date is Thursday, January 9th. Landstar System’s dividend payout ratio is currently 11.97%.

In related news, COO Joseph J. Beacom sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.23, for a total value of $586,150.00. Following the completion of the transaction, the chief operating officer now directly owns 40,924 shares of the company’s stock, valued at approximately $4,797,520.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 7,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.96, for a total value of $825,720.00. Following the completion of the sale, the director now directly owns 31,969 shares in the company, valued at approximately $3,771,063.24. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in LSTR. Raymond James Trust N.A. raised its stake in Landstar System by 4.0% during the fourth quarter. Raymond James Trust N.A. now owns 4,538 shares of the transportation company’s stock worth $517,000 after acquiring an additional 176 shares during the period. Stifel Financial Corp grew its holdings in shares of Landstar System by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 54,002 shares of the transportation company’s stock valued at $6,083,000 after purchasing an additional 196 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Landstar System by 6.3% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,520 shares of the transportation company’s stock worth $380,000 after purchasing an additional 208 shares during the period. BB&T Securities LLC lifted its stake in Landstar System by 1.9% in the third quarter. BB&T Securities LLC now owns 12,575 shares of the transportation company’s stock worth $1,421,000 after purchasing an additional 230 shares during the last quarter. Finally, Tyers Asset Management LLC boosted its position in Landstar System by 6.3% during the second quarter. Tyers Asset Management LLC now owns 4,840 shares of the transportation company’s stock valued at $523,000 after buying an additional 286 shares during the period.

Landstar System Company Profile

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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Analyst Recommendations for Landstar System (NASDAQ:LSTR)

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