Landstar System Inc (NASDAQ:LSTR) reported better-than-expected earnings for the first quarter on Tuesday.

The company posted quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.12 per share. The company reported quarterly sales of $1.171 billion which beat the analyst consensus estimate of $1.156 billion.

“The Landstar team of independent business owners and employees executed well in a dynamic transportation backdrop, with our network generating higher truck transportation revenues and increased BCO utilization year-over-year,” said Landstar President and Chief Executive Officer Frank Lonegro. “I was particularly pleased with our variable contribution performance which reflected Landstar’s first year-over-year increase in variable contribution since the third quarter of 2022. We were encouraged by our improved first quarter results, attributable to a strengthening rate environment and the Company’s unwavering commitment to safety, security and service.”

Landstar System shares rose 2.4% to trade at $186.82 on Wednesday.

These analysts made changes to their price targets on Landstar System following earnings announcement.

  • Stifel analyst J. Bruce Chan maintained Landstar System with a Hold and raised the price target from $147 to $175.
  • Truist Securities analyst Lucas Servera maintained the stock with a Hold and raised the price target from $145 to $190.
  • Susquehanna analyst Bascome Majors maintained the stock with a Neutral and raised the price target from $185 to $195.
  • Evercore ISI Group analyst Jonathan Chappell maintained Landstar System with an In-Line rating and raised the price target from $157 to $181.

Considering buying LSTR stock? Here’s what analysts think:

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