Morgan Stanley Raises Landstar System, Inc. (LSTR) Price Target to $68.00

Landstar System, Inc. (NASDAQ:LSTR) had its price objective upped by Morgan Stanley from $66.00 to $68.00 in a research report released on Monday morning. Morgan Stanley currently has an underweight rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Landstar System from a hold rating to a buy rating and set a $98.00 target price for the company in a research report on Thursday, July 6th. Stifel Nicolaus upgraded shares of Landstar System from a hold rating to a buy rating and upped their target price for the company from $87.00 to $95.00 in a research report on Monday, July 31st. Deutsche Bank AG lowered shares of Landstar System from a buy rating to a hold rating and decreased their price target for the company from $97.00 to $87.00 in a report on Monday, July 31st. BidaskClub lowered shares of Landstar System from a buy rating to a hold rating in a report on Monday, July 24th. Finally, Cowen and Company boosted their price target on shares of Landstar System from $76.00 to $82.00 and gave the company a market perform rating in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Landstar System presently has a consensus rating of Hold and a consensus price target of $84.86.

Shares of Landstar System (NASDAQ LSTR) opened at 83.90 on Monday. The stock’s 50 day moving average price is $85.76 and its 200 day moving average price is $85.28. Landstar System has a 1-year low of $65.05 and a 1-year high of $90.80. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 24.23 and a beta of 0.75.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Analysts expect that Landstar System will post $3.55 EPS for the current year.

WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/08/10/morgan-stanley-raises-landstar-system-inc-lstr-price-target-to-68-00.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a $0.10 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. Landstar System’s payout ratio is 10.40%.

Several institutional investors have recently made changes to their positions in the stock. Old Mutual Global Investors UK Ltd. raised its position in shares of Landstar System by 147,683.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 152,217 shares of the transportation company’s stock valued at $13,029,000 after buying an additional 152,114 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Landstar System by 29.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 57,998 shares of the transportation company’s stock worth $4,965,000 after buying an additional 13,064 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 3.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,081,447 shares of the transportation company’s stock worth $92,572,000 after buying an additional 31,519 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Landstar System by 1.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,308 shares of the transportation company’s stock worth $502,000 after buying an additional 109 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Landstar System by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock worth $524,000 after buying an additional 17 shares during the last quarter. 97.12% of the stock is owned by institutional investors.

About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

Analyst Recommendations for Landstar System (NASDAQ:LSTR)

Receive News & Ratings for Landstar System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply