Zacks Investment Research upgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a sell rating to a hold rating in a research note released on Thursday, October 19th.
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 restated a buy rating and issued a $7.00 target price on shares of Radiant Logistics in a research note on Thursday, September 7th.
Shares of Radiant Logistics (NASDAQ:RLGT) opened at 5.07 on Thursday. The firm has a 50-day moving average of $5.10 and a 200 day moving average of $5.34. The company has a market cap of $247.55 million and a price-to-earnings ratio of 87.41. Radiant Logistics has a one year low of $2.48 and a one year high of $6.65.
Radiant Logistics (NASDAQ:RLGT) last released its earnings results on Tuesday, September 12th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $187.91 million. Radiant Logistics had a negative return on equity of 3.34% and a negative net margin of 0.25%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. Equities research analysts anticipate that Radiant Logistics will post $0.27 EPS for the current year.
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A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Radiant Logistics by 18.1% during the second quarter. Vanguard Group Inc. now owns 1,399,277 shares of the company’s stock valued at $7,528,000 after buying an additional 214,528 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Radiant Logistics by 43.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,236 shares of the company’s stock worth $6,931,000 after purchasing an additional 389,620 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Radiant Logistics by 129.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 802,855 shares of the company’s stock worth $4,319,000 after purchasing an additional 453,611 shares in the last quarter. State Street Corp increased its holdings in shares of Radiant Logistics by 11.1% in the 2nd quarter. State Street Corp now owns 588,753 shares of the company’s stock worth $3,167,000 after purchasing an additional 59,023 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Radiant Logistics by 9.4% in the 2nd quarter. Northern Trust Corp now owns 420,435 shares of the company’s stock worth $2,262,000 after purchasing an additional 36,280 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.
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