TD Cowen Lowers Landstar System (NASDAQ:LSTR) Price Target to $145.00

Landstar System (NASDAQ:LSTR) had its price objective cut by analysts at TD Cowen from $161.00 to $145.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 6.12% from the stock’s current price.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Susquehanna reduced their target price on Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. Stifel Nicolaus boosted their price target on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, Truist Financial began coverage on Landstar System in a research report on Thursday, March 13th. They issued a “hold” rating and a $160.00 target price on the stock. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.45.

Landstar System Stock Down 1.4 %

NASDAQ LSTR opened at $136.64 on Thursday. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 24.75 and a beta of 0.82. The company has a 50 day moving average of $156.41 and a 200-day moving average of $172.43. Landstar System has a 1-year low of $132.41 and a 1-year high of $196.86.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts expect that Landstar System will post 6.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Landstar System

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after purchasing an additional 521,695 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Landstar System during the fourth quarter worth $63,816,000. Norges Bank bought a new position in Landstar System during the fourth quarter worth $54,088,000. Corient Private Wealth LLC lifted its holdings in Landstar System by 1,207.3% in the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock valued at $50,509,000 after buying an additional 271,417 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Landstar System by 116.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock valued at $47,205,000 after acquiring an additional 147,756 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

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.