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Here's Why Investors Should Give Landstar Stock a Miss Now
Zacks
Landstar System, Inc. (LSTR) is currently mired in multiple headwinds, which, we believe, have made it an unimpressive investment option.
Let’s delve deeper.
Southward Earnings Estimate Revision:The Zacks Consensus Estimate for third-quarter 2024 earnings has been revised 15.6% downward over the past 90 days. For 2024, the consensus mark for earnings has moved 4.4% south in the same time frame. The bearish alterations in estimate revisions underscore a notable decline in brokers' confidence in the stock.
Weak Zacks Rank and Style Score:Landstar currently carries a Zacks Rank #4 (Sell). The company’s current Value Score of C shows its unattractiveness.
Unimpressive Price Performance:LSTR has plunged 1% so far this year compared with the industry’s gain of 14.1%.
Six-Month Price Comparison
Earnings Expectations: Downbeat earnings expectations cast a shadow over a company’s prospects. For fourth-quarter 2024, LSTR’s earnings are expected to decline 13.58% year over year. For 2024, LSTR’s earnings are expected to decline 23.78% year over year.
Other Headwinds: LSTR is being hurt by reduced demand for freight services and increased truck capacity. Due to the weakness in demand, shipment volumes and rates are low. The top line has been suffering mainly due to the below-par performance of its key segment, namely, truck transportation. Revenues are likely to be weak going forward as well.
Driver shortage continues to be a major challenge facing the trucking industry. As old drivers retire, trucking companies find it difficult to hire drivers since the job does not appeal to the younger generation.
Stocks to Consider
Some better-ranked stocks from the Zacks Transportation sector are C.H. Robinson Worldwide (CHRW) and Wabtec Corporation WAB. Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CHRW has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 10.29%.
CHRW has an expected earnings growth rate of 32.42% for 2024. The Zacks Consensus Estimate for CHRW 2024 earnings has been revised 7.3% upward over the past 90 days. Shares of CHRW have gained 26.2% so far this year.
WAB has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 9.46%.
The Zacks Consensus Estimate for WAB’s 2024 earnings has been revised 2.5% upward over the past 90 days. WAB has an expected earnings growth rate of 28.55% for 2024. Shares of WAB have gained 58.5% so far this year.
Zacks Investment Research
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