In a report released today, Scott Schneeberger from Oppenheimer maintained a Hold rating on Landstar System Inc (NASDAQ: LSTR). The company’s shares closed on Friday at $98.24, close to its 52-week low of $93.48.
Schneeberger commented:
“3Q18 adjusted EPS of $1.63 (+61% y/y) exceeded our estimate/consensus of $1.61/ $1.60 (guidance was $1.58-$1.64). 3Q18 total revenue grew 27% y/y, which exceeded our/consensus expectations. 3Q18 operating income was slightly lower than our estimate/consensus primarily on carrier mix. Nonetheless, all three 3Q18 metrics were all-time company quarterly records. 3Q18 truck volume/revenue per load grew +7% (+10% y/y excluding 16K 3Q17 hurricane-related loads)/+19% y/y, respectively, in a continued strong demand/pricing environment with truck capacity tight industry- wide. 4Q18 number of loads via truck/revenue per load via truck/total revenue/ adjusted EPS were guided to grow 8%-10%/upper single digits/12%-17%/44%-50% y/y, respectively.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 10.6% and a 65.4% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and XPO Logistics.
Landstar System Inc has an analyst consensus of Hold, with a price target consensus of $117.60, which is a 19.7% upside from current levels. In a report issued on October 26, Cowen & Co. also maintained a Hold rating on the stock with a $111 price target.
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Based on Landstar System Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $66.99 million. In comparison, last year the company had a net profit of $42.44 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. Last month, Joseph Beacom, the VP, CSO, COO of LSTR sold 3,000 shares for a total of $358,530.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Landstar System, Inc.engages in the provision of transportation management solutions. It operates through the Transportation Logistics and Insurance segments.
