KeyBanc Maintains a 'Buy' on Landstar System (LSTR); Cutting Estimates on Mid-Qtr Update
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Price: $186.58 +2.28%
Rating Summary:
4 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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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.
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.
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