Radiant Logistics (NYSEAMERICAN:RLGT) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat Ratings reports. Citizens Jmp currently has $10.00 target price on the stock.

RLGT has been the subject of several other research reports. Lake Street Capital increased their target price on Radiant Logistics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Citigroup raised Radiant Logistics from a “market perform” rating to an “outperform” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Radiant Logistics Stock Down 2.3%

RLGT opened at $8.89 on Tuesday. The stock has a market cap of $416.85 million, a price-to-earnings ratio of 22.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.60. The firm’s fifty day moving average is $8.67 and its 200 day moving average is $8.36. Radiant Logistics has a fifty-two week low of $5.78 and a fifty-two week high of $10.20.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings results on Monday, September 14th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $261.44 million for the quarter, compared to analysts’ expectations of $231.34 million. Radiant Logistics had a return on equity of 10.95% and a net margin of 2.01%.

Institutional Trading of Radiant Logistics

Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. purchased a new stake in shares of Radiant Logistics during the 1st quarter worth approximately $943,000. BlackRock Inc. purchased a new position in shares of Radiant Logistics in the second quarter valued at $27,173,000. Bank of New York Mellon Corp purchased a new position in shares of Radiant Logistics in the second quarter valued at $1,227,000. Rothschild Wealth LLC bought a new stake in Radiant Logistics in the fourth quarter worth $1,808,000. Finally, North Star Investment Management Corp. bought a new stake in Radiant Logistics in the first quarter worth $1,657,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc is a third-party logistics company that provides transportation and supply chain management services to manufacturers, distributors, retailers and other commercial customers. The company operates an asset-light model, coordinating shipments through a network of company-operated locations and independent agents rather than relying primarily on its own transportation equipment.

Its services include domestic and international freight forwarding, truckload and less-than-truckload transportation, expedited shipping, air and ocean freight, customs-related services, warehousing and distribution.