Radiant Logistics (NYSEAMERICAN:RLGT) Shares Break Above 50-Day Moving Average – What’s Next?

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $8.75 and traded as high as $8.85. Radiant Logistics shares last traded at $8.81, with a volume of 145,639 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RLGT shares. Citizens Jmp upgraded Radiant Logistics from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Tuesday, September 15th. Citigroup raised shares of Radiant Logistics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating. According to MarketBeat, Radiant Logistics presently has a consensus rating of “Buy” and an average price target of $11.00.

Radiant Logistics Stock Performance

The company’s fifty day simple moving average is $8.75 and its two-hundred day simple moving average is $8.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $413.89 million, a P/E ratio of 22.59 and a beta of 0.81.

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

Hedge Funds Weigh In On Radiant Logistics

Several institutional investors and hedge funds have recently modified their holdings of RLGT. Janney Montgomery Scott LLC boosted its stake in shares of Radiant Logistics by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,049 shares of the company’s stock valued at $536,000 after purchasing an additional 1,684 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Radiant Logistics by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 115,948 shares of the company’s stock worth $817,000 after buying an additional 3,150 shares during the last quarter. IFP Advisors Inc lifted its holdings in Radiant Logistics by 21,368.8% in the third quarter. IFP Advisors Inc now owns 3,435 shares of the company’s stock valued at $30,000 after buying an additional 3,419 shares during the period. Legal & General Group Plc acquired a new position in Radiant Logistics in the second quarter valued at $36,000. Finally, Hsbc Holdings PLC lifted its holdings in Radiant Logistics by 5.1% in the first quarter. Hsbc Holdings PLC now owns 89,098 shares of the company’s stock valued at $626,000 after buying an additional 4,309 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

About Radiant Logistics

Radiant Logistics, Inc is a third-party logistics company that provides domestic and international transportation and supply-chain services. Its offerings include freight forwarding, truckload and less-than-truckload transportation, expedited shipping, air and ocean freight, warehousing, distribution, and related logistics management services.

The company operates an asset-light business model supported by a network of company-owned and independent operating locations. Radiant coordinates shipments for businesses across a range of industries, helping customers manage transportation, fulfillment, and other supply-chain requirements without maintaining extensive transportation infrastructure of their own.

Founded in 2001 and headquartered in Bellevue, Washington, Radiant serves customers throughout North America and supports international shipments through its global logistics network.