Radiant Logistics Inc (RLGT) Upgraded to Buy at Zacks Investment Research
Radiant Logistics Inc (NYSE:RLGT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $2.75 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 8.70% from the stock’s current price.
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 downgraded shares of Radiant Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th.
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Radiant Logistics (NYSE:RLGT) last announced its earnings results on Tuesday, September 13th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $183.60 million for the quarter. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share.
In related news, CEO Bohn H. Crain acquired 51,005 shares of the stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average cost of $2.50 per share, for a total transaction of $127,512.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Several large investors have recently bought and sold shares of the company. Menta Capital LLC increased its stake in Radiant Logistics by 62.7% in the second quarter. Menta Capital LLC now owns 69,957 shares of the company’s stock valued at $210,000 after buying an additional 26,960 shares during the last quarter. Penn Capital Management Co. Inc. increased its stake in Radiant Logistics by 119.1% in the second quarter. Penn Capital Management Co. Inc. now owns 825,123 shares of the company’s stock valued at $2,475,000 after buying an additional 448,598 shares during the last quarter. Allianz Asset Management AG increased its stake in Radiant Logistics by 10.0% in the second quarter. Allianz Asset Management AG now owns 262,550 shares of the company’s stock valued at $788,000 after buying an additional 23,912 shares during the last quarter. State Street Corp increased its stake in Radiant Logistics by 5.8% in the second quarter. State Street Corp now owns 332,845 shares of the company’s stock valued at $997,000 after buying an additional 18,144 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in Radiant Logistics by 17.3% in the second quarter. Teachers Advisors Inc. now owns 53,030 shares of the company’s stock valued at $159,000 after buying an additional 7,817 shares during the last quarter.
Radiant Logistics Company Profile
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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