KeyBanc Maintains a 'Buy' on Landstar System (LSTR); Cutting Estimates on Mid-Qtr Update
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Price: $55.12 -0.74%
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade LSTR Now!
KeyBanc maintains a 'Buy' on Landstar System (NASDAQ: LSTR) price target of $59.00 (from $61.00).
Analyst, Todd C. Fowler, said, "We are lowering estimates for Landstar to reflect revised guidance from Thursday's mid-quarter update. Commentary confirms recent due diligence indicating more inconsistent freight activity in recent weeks, which we expect to continue through year-end. While softer activity is impacting near-term results, we maintain our view asset-light, owner-operator models such as LSTR are better positioned in the current low growth, inflationary cost environment, while company-specific share gains should contribute to continued near-term margin expansion."
Q3 EPS estimate lowered from $0.74 to $0.69, FY12 from $2.82 to $2.73 and FY13 from $3.15 to $3.10.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday, with a 52 week range of $36.67-$59.02.
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Analyst, Todd C. Fowler, said, "We are lowering estimates for Landstar to reflect revised guidance from Thursday's mid-quarter update. Commentary confirms recent due diligence indicating more inconsistent freight activity in recent weeks, which we expect to continue through year-end. While softer activity is impacting near-term results, we maintain our view asset-light, owner-operator models such as LSTR are better positioned in the current low growth, inflationary cost environment, while company-specific share gains should contribute to continued near-term margin expansion."
Q3 EPS estimate lowered from $0.74 to $0.69, FY12 from $2.82 to $2.73 and FY13 from $3.15 to $3.10.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday, with a 52 week range of $36.67-$59.02.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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