Radiant Logistics Inc (RLGT) Given Buy Rating at Cowen and Company
Radiant Logistics Inc (NASDAQ:RLGT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cowen and Company in a note issued to investors on Thursday. They presently have a $7.00 price objective on the stock. Cowen and Company’s target price would suggest a potential upside of 39.17% from the stock’s previous close.
Separately, Zacks Investment Research downgraded Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd.
Shares of Radiant Logistics (NASDAQ:RLGT) traded up 0.80% during midday trading on Thursday, hitting $5.03. The company had a trading volume of 108,310 shares. Radiant Logistics has a 12 month low of $2.45 and a 12 month high of $6.65. The company has a market cap of $244.35 million and a price-to-earnings ratio of 76.21. The stock’s 50-day moving average price is $4.79 and its 200-day moving average price is $5.38.
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A number of institutional investors and hedge funds have recently modified their holdings of RLGT. TIAA CREF Investment Management LLC grew its stake in Radiant Logistics by 129.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 802,855 shares of the company’s stock worth $4,319,000 after buying an additional 453,611 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Radiant Logistics by 43.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,236 shares of the company’s stock worth $6,931,000 after buying an additional 389,620 shares during the last quarter. Vanguard Group Inc. grew its stake in Radiant Logistics by 18.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,399,277 shares of the company’s stock worth $7,528,000 after buying an additional 214,528 shares during the last quarter. Nationwide Fund Advisors grew its stake in Radiant Logistics by 337.5% during the 2nd quarter. Nationwide Fund Advisors now owns 200,809 shares of the company’s stock worth $1,080,000 after buying an additional 154,906 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in Radiant Logistics by 675.8% during the 2nd quarter. Federated Investors Inc. PA now owns 170,177 shares of the company’s stock worth $916,000 after buying an additional 148,241 shares during the last quarter.
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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