Landstar System (NASDAQ:LSTR) Cut to "Market Perform" at Raymond James

Landstar System (NASDAQ:LSTR - Get Free Report) was downgraded by analysts at Raymond James from an "outperform" rating to a "market perform" rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

Other research analysts also recently issued reports about the stock. Stephens reduced their price objective on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 30th. UBS Group lifted their price target on Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Evercore ISI cut their price target on Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a report on Wednesday, October 30th. Benchmark restated a "hold" rating on shares of Landstar System in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Landstar System from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $174.25.

Landstar System Stock Down 2.4 %

Landstar System stock traded down $4.59 during trading on Friday, reaching $182.82. 171,432 shares of the company's stock were exchanged, compared to its average volume of 256,973. The company's 50-day moving average is $183.92 and its two-hundred day moving average is $183.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System has a 52-week low of $165.39 and a 52-week high of $201.40. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $1.71 earnings per share. Landstar System's revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts predict that Landstar System will post 5.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Landstar System

A number of institutional investors and hedge funds have recently modified their holdings of LSTR. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Landstar System by 2.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company's stock valued at $387,000 after purchasing an additional 57 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Landstar System by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company's stock valued at $883,000 after buying an additional 68 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Landstar System by 14.1% in the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock worth $107,000 after buying an additional 70 shares during the period. Equitable Trust Co. increased its position in shares of Landstar System by 2.2% in the third quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company's stock worth $614,000 after acquiring an additional 71 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Landstar System by 13.8% during the first quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company's stock valued at $115,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Company Profile

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.