Radiant Logistics Inc (RLGT) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Radiant Logistics Inc (NYSE:RLGT) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $2.75 target price on the stock.
According to Zacks, “Radiant Logistics is executing a strategy to build a global transportation and supply chain management company through organic growth and the strategic acquisition of regional best-of-breed non- asset based transportation and logistics providers to offer its customers domestic and international freight forwarding and an expanding array of value added supply chain management services, including asset recovery and reverse logistics, order fulfillment, inventory management and warehousing. “
Separately, TheStreet lowered shares of Radiant Logistics from a hold rating to a sell rating in a research note on Tuesday, September 13th.
Shares of Radiant Logistics (NYSE:RLGT) traded down 0.119% on Thursday, reaching $2.517. 3,091 shares of the company were exchanged. Radiant Logistics has a 52-week low of $2.45 and a 52-week high of $4.41. The company’s market capitalization is $122.97 million. The stock has a 50 day moving average of $2.77 and a 200-day moving average of $3.24.
Radiant Logistics (NYSE:RLGT) last posted its quarterly earnings data on Tuesday, September 13th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $183.60 million for the quarter. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. On average, analysts predict that Radiant Logistics will post $0.18 EPS for the current fiscal year.
In other news, CEO Bohn H. Crain purchased 51,005 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $127,512.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC raised its position in shares of Radiant Logistics by 6.7% in the first quarter. Nantahala Capital Management LLC now owns 2,748,540 shares of the company’s stock worth $9,812,000 after buying an additional 173,368 shares during the period. Cortina Asset Management LLC raised its position in shares of Radiant Logistics by 2.1% in the second quarter. Cortina Asset Management LLC now owns 1,010,606 shares of the company’s stock worth $3,032,000 after buying an additional 20,435 shares during the period. BlackRock Fund Advisors raised its position in shares of Radiant Logistics by 19.4% in the second quarter. BlackRock Fund Advisors now owns 977,940 shares of the company’s stock worth $2,934,000 after buying an additional 159,084 shares during the period. Penn Capital Management Co. Inc. raised its position in shares of Radiant Logistics by 119.1% in the second quarter. Penn Capital Management Co. Inc. now owns 825,123 shares of the company’s stock worth $2,475,000 after buying an additional 448,598 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Radiant Logistics by 5.8% in the second quarter. Vanguard Group Inc. now owns 672,872 shares of the company’s stock worth $2,019,000 after buying an additional 36,587 shares during the period.
About Radiant Logistics
Radiant Logistics, Inc is a third party logistics company. The Company provides multi-modal transportation and logistics services primarily in the United States and Canada. The Company operates in two geographic operating segments: U.S. and Canada. The Company services an account base consisting of consumer goods, food and beverage, manufacturing and retail customers through a multibrand network consisting of approximately 31 Company owned offices and 128 locations operated by its independent agents, as well as an integrated international service partner network located in other markets around the globe.
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