Price Action Alert: Is Buying 52-Week Stock Like Landstar System, Inc. a Winning Strategy?

Price Action Alert: Is Buying 52 Week Stock Like Landstar System, Inc. a Winning Strategy?

The stock of Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week high and has $130.55 target or 69.00% above today’s $77.25 share price. The 7 months bullish chart indicates low risk for the $3.24B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $130.55 price target is reached, the company will be worth $2.24B 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 194,568 shares traded hands. Landstar System, Inc. (NASDAQ:LSTR) has risen 17.73% since April 7, 2016 and is uptrending. It has outperformed by 12.94% 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. Landstar System has been the topic of 27 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Oppenheimer on Monday, October 26. Stifel Nicolaus downgraded the shares of LSTR in a report on Thursday, March 31 to “Hold” rating. The stock has “Outperform” rating given by Cowen & Co on Friday, October 23. The firm earned “Hold” rating on Friday, October 23 by Deutsche Bank. The company was upgraded on Friday, December 11 by Avondale. The stock of Landstar System, Inc. (NASDAQ:LSTR) earned “Outperform” rating by Cowen & Co on Friday, January 29. As per Wednesday, March 30, the company rating was maintained by Credit Suisse. As per Thursday, October 20, the company rating was maintained by Cowen & Co. The firm has “Buy” rating given on Friday, September 4 by William Blair. The firm has “Hold” rating given on Tuesday, September 1 by Zacks.

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 fall, 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.
Point72 Asset Limited Partnership holds 0.01% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR) for 15,200 shares. Mountain Pacific Investment Advisers Id reported 234,185 shares or 1.85% of all its holdings. Hillsdale Inv Mngmt last reported 130 shares in the company. Royal Natl Bank Of Canada last reported 0.02% of its portfolio in the stock. Moreover, Cornerstone Advsrs has 0.01% invested in Landstar System, Inc. (NASDAQ:LSTR) for 99 shares. Fenimore Asset holds 0.45% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR) for 133,496 shares. Voya Limited Liability Corp has invested 0% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR). Bbva Compass Bankshares last reported 17,212 shares in the company. Brown Advisory Securities holds 0.07% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR) for 3,416 shares. Da Davidson & Com holds 3,809 shares or 0.01% of its portfolio. Wesbanco Bank holds 0.03% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR) for 6,150 shares. Mutual Of America Capital Limited Liability Corp holds 0.05% or 31,459 shares in its portfolio. Crawford Investment Counsel has invested 0.07% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR). Quantitative Invest Limited Liability Company has 0.02% invested in the company for 7,600 shares. Ghp Invest Advsr holds 30,868 shares or 0.46% of its portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 insider buys, and 1 insider sale for $123,607 net activity. O’Malley Patrick J sold $123,607 worth of Landstar System, Inc. (NASDAQ:LSTR) on Monday, August 1.

Another recent and important Landstar System, Inc. (NASDAQ:LSTR) news was published by Prnewswire.com 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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