What gives with this piece o crap LSTR. With the transports down, I was thinking about bottom fishing on a couple names. So I took a look at LSTR. Price = $36.15 / share.

Is this for frigging real? At the best LSTR earned $2.00 per share in earnings. And it did that in 2008 after four straight years of zero earnings growth (that includes the 2008 year). Now earnings have cratered to the $1.50 range and last quarter they reported $0.36 per share.

That means LSTR is trading at ONLY 22 times earnings, with earnings DOWN. Who is buying this crap. 22 times for a transport company with absolutely bo long term and short term earnings mojo? What are people thinking?

I thought that maybe I was going to uncover some nice company at an attractive valuation that had been overly punished. I only see a company whose earnings have been punished and whose shares have been rewarded. There is simply no upside to these shares. I can not come up with a viewpoint that allows me to calculate and envision any share price upside versus the massive risk I would take by buying the shares. It is such a low probability investment.

Why does anyone hold this junk at these prices? I would understand if this company had a history of producing strong earnings growth over time and that the recent economic recession was the cause for earnings and share price weakness, resulting in a buying opportunity. All I see is a no earnings growth company whose earnings have gone down with the economy buy whose share price has not reflected the reality of a significantly reduced economic reality.