Zacks: Radiant Logistics Inc (RLGT) Receives Consensus Recommendation of “Strong Buy” from Analysts
Shares of Radiant Logistics Inc (NASDAQ:RLGT) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a one year consensus target price of $7.33 for the company and are expecting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also given Radiant Logistics an industry rank of 183 out of 265 based on the ratings given to its competitors.
A number of analysts recently weighed in on RLGT shares. Zacks Investment Research cut shares of Radiant Logistics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company reiterated a “buy” rating and set a $7.00 price target on shares of Radiant Logistics in a research note on Thursday.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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. Dimensional Fund Advisors LP raised its position 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. TIAA CREF Investment Management LLC raised its position 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. State Street Corp raised its position in Radiant Logistics by 11.1% during the 2nd quarter. State Street Corp now owns 588,753 shares of the company’s stock worth $3,167,000 after buying an additional 59,023 shares during the last quarter. Finally, Northern Trust Corp raised its position in Radiant Logistics by 9.4% during the 2nd quarter. Northern Trust Corp now owns 420,435 shares of the company’s stock worth $2,262,000 after buying an additional 36,280 shares during the last quarter.
Radiant Logistics (RLGT) traded up 0.80% on Friday, reaching $5.03. 108,310 shares of the company’s stock were exchanged. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $6.65. The firm has a 50-day moving average price of $4.79 and a 200-day moving average price of $5.38. The company has a market capitalization of $244.35 million and a P/E ratio of 76.21.
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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