Truist Financial Issues Pessimistic Forecast for Landstar System (NASDAQ:LSTR) Stock Price

Landstar System (NASDAQ:LSTR) had its target price lowered by Truist Financial from $150.00 to $135.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the transportation company’s stock.

A number of other research firms have also commented on LSTR. Stifel Nicolaus reduced their target price on Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a report on Monday, April 14th. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Jefferies Financial Group lowered their target price on shares of Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Susquehanna reduced their price target on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, TD Cowen lowered their price objective on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $155.67.

Landstar System Stock Performance

Shares of Landstar System stock opened at $139.92 on Thursday. Landstar System has a 1 year low of $128.99 and a 1 year high of $196.86. The firm’s 50-day moving average is $147.79 and its 200 day moving average is $167.41. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 25.35 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Sell-side analysts anticipate that Landstar System will post 6.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Landstar System

A number of institutional investors have recently bought and sold shares of the stock. Confluence Wealth Services Inc. increased its position in Landstar System by 7.2% in the first quarter. Confluence Wealth Services Inc. now owns 7,067 shares of the transportation company’s stock worth $977,000 after buying an additional 476 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Landstar System in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC increased its holdings in Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after acquiring an additional 154 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Landstar System during the 1st quarter worth approximately $816,000. Finally, Roberts Wealth Advisors LLC lifted its holdings in Landstar System by 2.9% during the first quarter. Roberts Wealth Advisors LLC now owns 4,750 shares of the transportation company’s stock valued at $713,000 after purchasing an additional 134 shares in the last quarter. 97.95% of the stock is owned by institutional investors.

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.