Radiant Logistics Inc (RLGT) Rating Reiterated by Cowen and Company
Radiant Logistics Inc (NASDAQ:RLGT)‘s stock had its “buy” rating reiterated by research analysts at Cowen and Company in a research note issued to investors on Thursday. They currently have a $7.00 price objective on the stock. Cowen and Company’s target price points to a potential upside of 39.17% from the company’s current price.
Separately, Zacks Investment Research upgraded Radiant Logistics from a “hold” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a research report on Saturday, May 13th.
Radiant Logistics (NASDAQ RLGT) opened at 5.03 on Thursday. The company has a market capitalization of $244.35 million and a price-to-earnings ratio of 76.21. The company’s 50-day moving average price is $4.78 and its 200 day moving average price is $5.38. Radiant Logistics has a 52-week low of $2.45 and a 52-week high of $6.65.
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A number of hedge funds and other institutional investors have recently modified their holdings of RLGT. Russell Investments Group Ltd. increased its stake in Radiant Logistics by 2.6% during the second quarter. Russell Investments Group Ltd. now owns 122,292 shares of the company’s stock worth $659,000 after acquiring an additional 3,105 shares during the last quarter. Strs Ohio increased its stake in Radiant Logistics by 173.1% during the second quarter. Strs Ohio now owns 118,000 shares of the company’s stock worth $634,000 after acquiring an additional 74,800 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Radiant Logistics by 180.0% during the second quarter. Eagle Global Advisors LLC now owns 56,330 shares of the company’s stock worth $303,000 after acquiring an additional 36,210 shares during the last quarter. Spark Investment Management LLC bought a new stake in Radiant Logistics during the second quarter worth approximately $383,000. Finally, Rhumbline Advisers increased its stake in Radiant Logistics by 18.8% during the second quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock worth $206,000 after acquiring an additional 6,080 shares during the last quarter.
About Radiant Logistics
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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