Radiant Logistics Inc (RLGT) Stock Rating Upgraded by Zacks Investment Research
Radiant Logistics Inc (NASDAQ:RLGT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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 reiterated a “buy” rating and set 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 mid-day trading on Thursday, reaching $4.98. The company’s stock had a trading volume of 105,767 shares. The firm has a market cap of $243.15 million and a P/E ratio of 85.86. Radiant Logistics has a 12-month low of $2.48 and a 12-month high of $6.65. The firm’s 50-day moving average price is $5.11 and its 200 day moving average price is $5.35.
Radiant Logistics (NASDAQ:RLGT) last released its quarterly earnings data on Tuesday, September 12th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The business had revenue of $201.80 million during the quarter, compared to analyst estimates of $187.91 million. Radiant Logistics had a negative return on equity of 3.34% and a negative net margin of 0.25%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, analysts expect that Radiant Logistics will post $0.27 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This report was first reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/22/radiant-logistics-inc-rlgt-stock-rating-upgraded-by-zacks-investment-research.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of 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 shares of 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 shares of 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 shares of Radiant Logistics in the 2nd quarter valued at about $383,000. Finally, Rhumbline Advisers increased its stake in shares of 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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Radiant Logistics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radiant Logistics Inc and related companies with MarketBeat.com's FREE daily email newsletter.