Price Don’t Lie: Could Landstar System, Inc. Go Down After Achieving 52-Week High?

Price Don't Lie: Could Landstar System, Inc. Go Down After Achieving 52 Week High?

The stock of Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week high and has $100.52 target or 40.00% above today’s $71.80 share price. The 7 months bullish chart indicates low risk for the $3.03B company. The 1-year high was reported on Nov, 4 by If the $100.52 price target is reached, the company will be worth $1.21B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,863 shares traded hands. Landstar System, Inc. (NASDAQ:LSTR) has risen 13.11% since April 4, 2016 and is uptrending. It has outperformed by 12.02% the S&P500.

Landstar System, Inc. (NASDAQ:LSTR) Ratings Coverage

Out of 11 analysts covering Landstar System (NASDAQ:LSTR), 3 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 27% are positive. $82 is the highest target while $56 is the lowest. The $68.70 average target is -4.32% below today’s ($71.8) stock price. Landstar System has been the topic of 27 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Thursday, August 20 by Zacks. The rating was maintained by Deutsche Bank with “Hold” on Friday, October 23. The firm earned “Mkt Outperform” rating on Friday, December 11 by Avondale. Cowen & Co maintained the shares of LSTR in a report on Friday, October 23 with “Outperform” rating. Macquarie Research downgraded the stock to “Underperform” rating in Wednesday, March 30 report. The company was maintained on Friday, January 29 by Oppenheimer. The stock of Landstar System, Inc. (NASDAQ:LSTR) has “Buy” rating given on Friday, September 4 by William Blair. Stifel Nicolaus maintained the shares of LSTR in a report on Thursday, October 20 with “Hold” rating. Oppenheimer maintained the shares of LSTR in a report on Monday, October 26 with “Outperform” rating. Credit Suisse maintained Landstar System, Inc. (NASDAQ:LSTR) on Wednesday, March 30 with “Neutral” rating.

According to Zacks Investment Research, “LANDSTAR SYSTEM, INC., through its operating subsidiaries, provides a wide range of transportation services that operates the third largest truckload carrier in North America.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.15, from 1.15 in 2016Q1. The ratio dived, as 24 funds sold all Landstar System, Inc. shares owned while 98 reduced positions. 31 funds bought stakes while 91 increased positions. They now own 42.87 million shares or 3.49% less from 44.42 million shares in 2016Q1.
Moreover, Great West Life Assurance Can has 0% invested in Landstar System, Inc. (NASDAQ:LSTR) for 20,072 shares. Proshare Limited Liability Corporation holds 0% or 3,719 shares in its portfolio. Janney Montgomery Scott Ltd owns 21,559 shares or 0.02% of their US portfolio. Rocky Mountain Advisers last reported 54 shares in the company. The New York-based Mutual Of America Capital Mngmt Limited Liability Co has invested 0.05% in Landstar System, Inc. (NASDAQ:LSTR). Capital Research Global reported 2.38 million shares or 0.06% of all its holdings. Moreover, Bank has 0% invested in Landstar System, Inc. (NASDAQ:LSTR) for 3,944 shares. State Street Corporation last reported 0.01% of its portfolio in the stock. Parametric Associate Ltd Limited Liability Company holds 0.03% or 248,090 shares in its portfolio. Citadel Advisors Lc owns 183,537 shares or 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement System has invested 0.02% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR). Bernzott Advisors holds 1.26% or 93,810 shares in its portfolio. Moreover, Swiss Bank has 0.01% invested in Landstar System, Inc. (NASDAQ:LSTR) for 69,800 shares. The New York-based Pinebridge Invs Lp has invested 0% in Landstar System, Inc. (NASDAQ:LSTR). First Manhattan, a New York-based fund reported 875 shares.

Insider Transactions: Since August 1, 2016, the stock had 0 buys, and 1 sale for $123,607 net activity. Shares for $123,607 were sold by O’Malley Patrick J on Monday, August 1.

Another recent and important Landstar System, Inc. (NASDAQ:LSTR) news was published by which published an article titled: “Landstar System Reports Third Quarter Revenue Of $788 Million And Diluted …” on October 19, 2016.

LSTR Company Profile

Landstar System, Inc. (Landstar), incorporated on January 8, 1991, is an asset-light well-known provider of integrated transportation management solutions. The Firm offers services to its clients across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs. The Firm operates in two divisions: the Transportation Logistics segment and the Insurance segment. Landstar provides services throughout the United States and in Canada, and between the United States and Canada, Mexico and other countries around the world. The Company’s services are delivered through a network of independent commission sales agents and third-party capacity providers linked together by a series of technological applications, which are provided and coordinated by the Company. The Company’s third-party capacity providers consist of independent contractors providing truck capacity to the Company under exclusive lease arrangements, unrelated trucking companies who provide truck capacity to the Company under non-exclusive contractual arrangements (the Truck Brokerage Carriers), air cargo carriers, ocean cargo carriers and railroads. Through this network of agents and capacity providers linked together by Landstar’s information technology systems, Landstar operates an integrated transportation management solutions business.

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