Radiant Logistics Inc (NASDAQ:RLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

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 reissued a “buy” rating and issued a $7.00 price target on shares of Radiant Logistics in a report on Thursday, September 7th.

Shares of Radiant Logistics (RLGT) opened at 5.05 on Friday. Radiant Logistics has a 12 month low of $2.45 and a 12 month high of $6.65. The stock has a market capitalization of $245.32 million and a PE ratio of 76.52. The company’s 50 day moving average price is $4.77 and its 200 day moving average price is $5.37.

Radiant Logistics (NASDAQ:RLGT) last posted its quarterly earnings results on Tuesday, September 12th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $187.91 million. Radiant Logistics had a return on equity of 1.28% and a net margin of 0.51%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Equities analysts anticipate that Radiant Logistics will post $0.32 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLGT. Russell Investments Group Ltd. increased its stake in Radiant Logistics by 2.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,292 shares of the company’s stock valued at $659,000 after purchasing an additional 3,105 shares in the last quarter. Strs Ohio increased its stake in Radiant Logistics by 173.1% in the 2nd quarter. Strs Ohio now owns 118,000 shares of the company’s stock valued at $634,000 after purchasing an additional 74,800 shares in the last quarter. Eagle Global Advisors LLC increased its stake in Radiant Logistics by 180.0% in the 2nd quarter. Eagle Global Advisors LLC now owns 56,330 shares of the company’s stock valued at $303,000 after purchasing an additional 36,210 shares in the last quarter. Spark Investment Management LLC purchased a new position in Radiant Logistics in the 2nd quarter valued at approximately $383,000. Finally, Rhumbline Advisers increased its stake in Radiant Logistics by 18.8% in the 2nd quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock valued at $206,000 after purchasing an additional 6,080 shares in 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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