Susquehanna Lowers Landstar System (NASDAQ:LSTR) Price Target to $165.00

26 Mar 2024

MarketBeat

Share on XTweet

Susquehanna Lowers Landstar System NASDAQLSTR Price Target to 16500

Susquehanna reduced their price objective on Landstar System from $170.00 to $165.00 and set a "neutral" rating on the stock in a research note on Monday.

Landstar System (NASDAQ:LSTR - Get Free Report) had its target price dropped by stock analysts at Susquehanna from $170.00 to $165.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the transportation company's stock. Susquehanna's price objective would indicate a potential downside of 10.04% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Landstar System from a "peer perform" rating to an "outperform" rating and set a $205.00 price target for the company in a research report on Wednesday, January 10th. Stifel Nicolaus decreased their price objective on shares of Landstar System from $171.00 to $166.00 and set a "hold" rating for the company in a research report on Friday, February 2nd. JPMorgan Chase & Co. started coverage on shares of Landstar System in a research note on Monday, December 11th. They set a "neutral" rating and a $186.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Landstar System from $165.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, February 2nd. Finally, UBS Group lifted their price target on shares of Landstar System from $175.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $184.55.

Read Our Latest Stock Report on Landstar System

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $1.99 on Monday, hitting $183.42. 192,808 shares of the company were exchanged, compared to its average volume of 271,217. Landstar System has a 1-year low of $161.13 and a 1-year high of $208.62. The stock's 50 day moving average price is $190.70 and its 200 day moving average price is $183.56. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.55 billion, a P/E ratio of 24.96 and a beta of 0.83.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Wednesday, January 31st. The transportation company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.01). Landstar System had a return on equity of 26.73% and a net margin of 4.99%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.25 billion. Sell-side analysts predict that Landstar System will post 6.82 EPS for the current year.

Insider Buying and Selling at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of the business's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares of the company's stock, valued at $11,632,468.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Landstar System

Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Landstar System by 0.8% during the first quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company's stock worth $616,286,000 after purchasing an additional 31,476 shares during the period. Vanguard Group Inc. increased its holdings in shares of Landstar System by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company's stock worth $668,993,000 after acquiring an additional 27,026 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Landstar System by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,273,485 shares of the transportation company's stock worth $586,805,000 after acquiring an additional 25,366 shares during the period. Morgan Stanley increased its holdings in shares of Landstar System by 756.6% in the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company's stock worth $496,178,000 after acquiring an additional 2,690,326 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Landstar System by 19.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company's stock worth $270,024,000 after acquiring an additional 224,286 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

About Landstar System

(Get Free Report)

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.