Radiant Logistics (NYSEAMERICAN:RLGT) Upgraded to Strong-Buy by Zacks Investment Research

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Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $6.50 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 22.87% from the company’s previous close.

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 set a $7.00 price target on Radiant Logistics and gave the company a “buy” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Radiant Logistics currently has a consensus rating of “Buy” and an average price target of $7.50.

Shares of RLGT opened at $5.29 on Tuesday. Radiant Logistics has a 12-month low of $4.06 and a 12-month high of $7.33.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $204.65 million for the quarter, compared to the consensus estimate of $220.47 million.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Radiant Logistics by 508.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,114 shares of the company’s stock valued at $51,000 after buying an additional 6,781 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Radiant Logistics during the 1st quarter valued at about $85,000. MetLife Investment Advisors LLC purchased a new position in shares of Radiant Logistics during the 1st quarter valued at about $119,000. WINTON GROUP Ltd purchased a new position in shares of Radiant Logistics during the 2nd quarter valued at about $130,000. Finally, Jefferies Group LLC raised its holdings in shares of Radiant Logistics by 38.4% during the 2nd quarter. Jefferies Group LLC now owns 21,456 shares of the company’s stock valued at $132,000 after buying an additional 5,952 shares in the last quarter. 39.47% of the stock is currently owned by institutional investors.

About Radiant Logistics

Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.

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