LSTR got downgraded

Landstar System, Inc. (NASDAQ:LSTR) received a stock rating downgrade from            Macquarie on Mar-30-16. In a note to investors, the firm issued an Underperform rating. The analysts previously had a Neutral rating on the stock.

Analysts have a consensus target price of $63.04 in the 12-month period. The 52-week price range is $52.96-$73.33 and the company has a market capitalization of $2.75 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. One analyst has rated the stock with a sell rating, 10 has assigned a hold rating, 0 says it’s a buy, and 4 have assigned a strong buy rating to the company.

Landstar System, Inc. (LSTR) on Jan. 28, 2016 reported fourth quarter net income of $37.9 million, or $0.88 per diluted share, on fourth quarter revenue of $849 million. Diluted earnings per share for the 2015 fourth quarter was the highest fourth quarter diluted earnings per share from continuing operations in Landstar history.  Landstar reported net income of $38.5 million, or $0.86 per diluted share, on revenue of $863 million in the 2014 fourth quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was $126.4 million in the 2015 fourth quarter compared to $124.7 million in gross profit in the 2014 fourth quarter. Operating income was $62.6 million in the 2015 fourth quarter and operating margin, representing operating income divided by gross profit, was 49.6 percent.

Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2015 fourth quarter was $786.4 million, or 93 percent of revenue, compared to $811.2 million, or 94 percent of revenue, in the 2014 fourth quarter.  Truckload transportation revenue hauled via van equipment in the 2015 fourth quarter was $481.4 million compared to $499.7 million in the 2014 fourth quarter.  Truckload transportation revenue hauled via unsided/platform equipment in the 2015 fourth quarter was $285.6 million compared to $289.6 million in the 2014 fourth quarter. Revenue hauled by rail, air and ocean cargo carriers was $50.6 million, or 6 percent of revenue, in the 2015 fourth quarter compared to $41.0 million, or 5 percent of revenue, in the 2014 fourth quarter.

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