Oppenheimer analyst Scott Schneeberger assigned a Hold rating to Landstar System Inc (NASDAQ: LSTR) today. The company’s shares closed on Friday at $108.05.
Schneeberger said:
“2Q18 adjusted EPS of $1.51 (+70% y/y) was consistent with our estimate/ consensus/guidance of $1.51/$1.52/$1.48-$1.54. 2Q18 total revenue grew 36% y/y, which exceeded expectations. 2Q18 operating income was slightly lower than our estimate primarily on higher than expected insurance & claims/SG&A expenses. With a lower than expected tax rate/share count offsetting, adjusted EPS netted in line with expectations. 2Q18 truck volume/revenue per load continued to grow double- digits/20%+ y/y, via a strong demand/pricing environment with truck capacity tight industrywide. Landstar guided 3Q18 number of loads via truck/revenue per load via truck/total revenue/adjusted EPS to grow 10%-12%/19%-22%/25%-30%/56%-62% y/ y. We’re increasing our 2018E-2019E on the continued strong business momentum, which appears partly factored into Landstar’s stock price.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.2% and a 67.1% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and XPO Logistics.
Currently, the analyst consensus on Landstar System Inc is a Hold with an average price target of $117.40, representing an 8.7% upside. In a report issued on July 26, Susquehanna also reiterated a Hold rating on the stock with a $119 price target.
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Landstar System Inc’s market cap is currently $4.44B and has a P/E ratio of 19.90. The company has a Price to Book ratio of 6.75.
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Landstar System, Inc.engages in the provision of transportation management solutions. It operates through the Transportation Logistics and Insurance segments.
