Zacks Investment Research upgraded shares of Radiant Logistics Inc (NYSE:RLGT) from a hold rating to a buy rating in a report issued on Thursday. The firm currently has $2.75 price target on the stock.
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, TheStreet cut shares of Radiant Logistics from a hold rating to a sell rating in a report on Tuesday, September 13th.
Shares of Radiant Logistics (NYSE:RLGT) opened at 2.52 on Thursday. The company’s 50 day moving average is $2.73 and its 200-day moving average is $3.21. The stock’s market capitalization is $123.12 million. Radiant Logistics has a 52 week low of $2.45 and a 52 week high of $4.41.
Radiant Logistics (NYSE:RLGT) last issued its earnings results on Tuesday, September 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.04. The business had revenue of $183.60 million for the quarter. Radiant Logistics’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, equities analysts predict that Radiant Logistics will post $0.18 earnings per share for the current year.
In other news, CEO Bohn H. Crain bought 51,005 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average cost of $2.50 per share, with a total value of $127,512.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Radiant Logistics by 5.8% in the second quarter. Vanguard Group Inc. now owns 672,872 shares of the company’s stock worth $2,019,000 after buying an additional 36,587 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Radiant Logistics by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 618,162 shares of the company’s stock worth $1,854,000 after buying an additional 107,067 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Radiant Logistics by 14.8% in the second quarter. BB&T Securities LLC now owns 86,225 shares of the company’s stock worth $258,000 after buying an additional 11,142 shares in the last quarter. Cadence Capital Management LLC bought a new stake in shares of Radiant Logistics during the second quarter worth approximately $453,000. Finally, California Public Employees Retirement System bought a new stake in shares of Radiant Logistics during the second quarter worth approximately $183,000.
Radiant Logistics Company Profile
Radiant Logistics, Inc is a third party logistics company. The Company provides multi-modal transportation and logistics services primarily in the United States and Canada. The Company operates in two geographic operating segments: U.S. and Canada. The Company services an account base consisting of consumer goods, food and beverage, manufacturing and retail customers through a multibrand network consisting of approximately 31 Company owned offices and 128 locations operated by its independent agents, as well as an integrated international service partner network located in other markets around the globe.
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