The stock of Landstar System, Inc. (NASDAQ:LSTR) hit a new 52-week high and has $107.41 target or 33.00% above today’s $80.76 share price. The 9 months bullish chart indicates low risk for the $3.35 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $107.41 price target is reached, the company will be worth $1.11B 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 248,362 shares traded hands. Landstar System, Inc. (NASDAQ:LSTR) has risen 24.29% since April 15, 2016 and is uptrending. It has outperformed by 19.66% 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. As per Wednesday, January 13, the company rating was downgraded by William Blair. The firm has “Hold” rating by BB&T Capital given on Monday, December 14. The firm has “Hold” rating given on Thursday, October 20 by Stifel Nicolaus. Zacks upgraded it to “Hold” rating and $73 target price in Tuesday, September 1 report. Deutsche Bank maintained it with “Hold” rating and $68 target price in Friday, October 23 report. As per Friday, October 23, the company rating was maintained by Cowen & Co. The stock has “Neutral” rating given by Credit Suisse on Wednesday, March 30. The rating was upgraded by Avondale to “Mkt Outperform” on Friday, December 11. On Wednesday, March 30 the stock rating was downgraded by Macquarie Research to “Underperform”. The stock of Landstar System, Inc. (NASDAQ:LSTR) has “Outperform” rating given on Monday, October 26 by Oppenheimer.
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 dropped, 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.
New York State Common Retirement Fund accumulated 200,700 shares or 0.02% of the stock. Tower Research Capital Ltd (Trc) last reported 0% of its portfolio in the stock. Lpl Financial owns 11,513 shares or 0.01% of their US portfolio. Us Natl Bank De has 5,785 shares for 0% of their US portfolio. Proshare Advsr Ltd Company last reported 3,719 shares in the company. Old Mutual Glob (Uk) Ltd holds 103 shares or 0% of its portfolio. Disciplined Growth Mn holds 1.67% of its portfolio in Landstar System, Inc. (NASDAQ:LSTR) for 969,799 shares. The Germany-based Dekabank Deutsche Girozentrale has invested 0% in Landstar System, Inc. (NASDAQ:LSTR). First Republic Invest Mngmt has 8,766 shares for 0.01% of their US portfolio. Clarkston Cap Prtnrs Ltd Liability Com last reported 2.3% of its portfolio in the stock. Janus Capital Mngmt Ltd Liability Corporation reported 596,525 shares or 0.03% of all its holdings. J Goldman & Lp last reported 98,463 shares in the company. Advantus Cap last reported 5,126 shares in the company. Fifth Third Bank accumulated 0.01% or 21,183 shares. Blackrock Fund Advisors, a California-based fund reported 1.83M shares.
Insider Transactions: Since August 1, 2016, the stock had 0 insider buys, and 4 selling transactions for $1.16 million net activity. The insider Stout L Kevin sold 5,000 shares worth $396,591. Another trade for 1,787 shares valued at $123,607 was sold by O’Malley Patrick J. Beacom Joseph J sold $239,671 worth of stock.
More news for Landstar System, Inc. (NASDAQ:LSTR) were recently published by: Prnewswire.com, which released: “Landstar System Reports Third Quarter Revenue Of $788 Million And Diluted …” on October 19, 2016. Nasdaq.com‘s article titled: “Landstar System, Inc. (LSTR) Ex-Dividend Date Scheduled for November 04, 2016” and published on November 03, 2016 is yet another important article.
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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