On September 27, 2023, investment analysts at Evercore ISI announced a decrease in the price target for Landstar System (NASDAQ:LSTR) from $180.00 to $178.00. This note was issued to investors and indicates a potential downside of 0.98% from the company’s previous close, according to FlyOnTheWall.
Landstar System opened at $179.76 on Wednesday. Over the past year, its stock has ranged between a low of $141.69 and a high of $208.62. The company currently has a market capitalization of $6.46 billion, a P/E ratio of 19.16, and a beta value of 0.91.
In terms of moving averages, Landstar System’s fifty-day average is $192.30, while its two-hundred-day average is $185.25. These figures provide insight into the stock’s recent performance and trends.
Landstar System operates in the transportation industry and provides integrated transportation management solutions both domestically and internationally in countries such as Canada, Mexico, and other global markets. It operates through two segments: Transportation Logistics and Insurance.
Under its Transportation Logistics segment, Landstar System offers various transportation services including truckload and less-than-truckload transportation, rail intermodal services, air cargo services, ocean cargo services, expedited ground and air delivery for time-critical freight, heavy-haul or specialized transportation options, cross-border services between the United States-Canada and United States-Mexico borders, intra-Mexico and intra-Canada transportation solutions, project cargo services, as well as customs brokerage services. Additionally, Landstar also provides transportation services to other companies in the transportation industry such as third-party logistics providers and small package/less-than-truckload service providers.
On July 26th this year,Landstar System released its quarterly earnings data revealing an EPS (earnings per share) of $1.85 for the quarter. This exceeded the consensus estimate of $1.80 by $0.05. The company’s net margin was reported to be 5.37%, and it had a return on equity of 36.67%. During the same period in the previous year, Landstar System earned $3.05 earnings per share. However, its quarterly revenue was down by 30.4% compared to the previous year.
Equities analysts are expecting Landstar System to post 7.65 earnings per share for this current year.
Investors and analysts will continue to watch Landstar System closely as they assess its performance in light of recent developments and projections within the industry at large.
Assessing Landstar System: Analyst Ratings and Institutional Investments
In a recent flurry of activity, several equities research analysts have offered their assessments of Landstar System, a transportation company. As of September 27, 2023, the ratings range from “Hold” to “Outperform,” with an average rating of “Hold” and a consensus target price of $179.77, according to data from Bloomberg.
StockNews.com initiated coverage on Landstar System in a research report on August 17th, assigning the company a “hold” rating. This was followed by Wells Fargo & Company’s research report on July 13th, in which they raised their target price for Landstar System from $180.00 to $190.00. Shortly after, Robert W. Baird also increased their target price for the company from $175.00 to $200.00 in a research report published on July 28th.
Additionally, UBS Group entered the picture with an initiation note on August 17th where they provided a “neutral” rating and set a price objective of $209.00 for Landstar System’s stock. Raymond James further heightened expectations with their research report on July 18th by raising their price objective from $200.00 to $215.00 and giving the stock an “outperform” rating.
Amongst these analysts’ reports, there has been divergence in opinions regarding Landstar System’s future prospects and potential value as an investment opportunity in the market.
Shifting focus towards institutional investors, we find interesting developments that shed light on Landstar System’s standing within this sphere. Morgan Stanley stands out with its significant increase in stake by 756.6% since the fourth quarter of last year. They now hold approximately 3,045,902 shares valued at $496,178,000.
Comerica Bank has also made moves within its portfolio by acquiring a new position in Landstar System during the second quarter of this year. Estimates suggest that the value of this position is around $647,360,000.
Norges Bank, a well-known institutional investor, has also joined the ranks of investors in Landstar System by acquiring a new position during the fourth quarter of last year. Investigators estimate its value at approximately $54,341,000.
Envestnet Asset Management Inc., another notable institutional investor, took part in increasing the stake in Landstar System by 298.8% during the first quarter of this year. Their current holdings have a value of $18,524,000.
Finally, Renaissance Technologies LLC entered the market with a new position in Landstar System during the first quarter of this year. Experts estimate its current value to be approximately $26,416,000.
It is worth noting that institutional investors and hedge funds own a dominating 99.52% share in Landstar System’s stock.
These recent developments surrounding Landstar System and its evaluation from equities research analysts alongside changes in institutional investment positions create an intriguing dynamic for shareholders and industry observers alike. The varying assessments from analysts coupled with substantial investments indicate that Landstar System’s future performance will undoubtedly be closely watched by market participants.
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