Radiant Logistics Inc (RLGT) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a sell rating to a hold rating in a report published on Thursday morning.
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, Cowen and Company restated a buy rating and issued a $7.00 price objective on shares of Radiant Logistics in a research note on Thursday, September 7th.
Shares of Radiant Logistics (RLGT) traded up 0.81% during midday trading on Thursday, reaching $4.98. The company’s stock had a trading volume of 105,767 shares. The stock has a market cap of $243.15 million and a PE ratio of 85.86. The firm has a 50-day moving average of $5.11 and a 200-day moving average of $5.35. Radiant Logistics has a one year low of $2.48 and a one year high of $6.65.
Radiant Logistics (NASDAQ:RLGT) last announced its quarterly earnings data on Tuesday, September 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $201.80 million during the quarter, compared to the consensus estimate of $187.91 million. Radiant Logistics had a negative return on equity of 3.34% and a negative net margin of 0.25%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. On average, analysts forecast that Radiant Logistics will post $0.27 EPS for the current year.
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Hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in shares of Radiant Logistics by 15.3% during the 2nd quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock worth $148,000 after acquiring an additional 3,640 shares during the period. Prudential Financial Inc. bought a new position in shares of Radiant Logistics during the 2nd quarter worth $153,000. The Manufacturers Life Insurance Company grew its stake in shares of Radiant Logistics by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock worth $172,000 after acquiring an additional 489 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Radiant Logistics during the 2nd quarter worth $178,000. Finally, Hancock Holding Co. bought a new position in shares of Radiant Logistics during the 2nd quarter worth $181,000.
Radiant Logistics Company Profile
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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