Zacks Investment Research upgraded shares of Radiant Logistics Inc (NYSE:RLGT) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $2.75 target price 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 lowered Radiant Logistics from a hold rating to a sell rating in a report on Tuesday, September 13th.
Radiant Logistics (NYSE:RLGT) opened at 2.51 on Thursday. The firm’s market capitalization is $122.63 million. Radiant Logistics has a one year low of $2.45 and a one year high of $4.41. The firm has a 50-day moving average price of $2.74 and a 200 day moving average price of $3.22.
Radiant Logistics (NYSE:RLGT) last issued its quarterly earnings data on Tuesday, September 13th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by $0.04. The firm earned $183.60 million during the quarter. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Analysts anticipate that Radiant Logistics will post $0.18 EPS for the current fiscal year.
In other Radiant Logistics news, CEO Bohn H. Crain bought 51,005 shares of Radiant Logistics stock in a transaction dated Tuesday, September 20th. The stock was bought at an average cost of $2.50 per share, with a total value of $127,512.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of institutional investors have recently made changes to their positions in RLGT. Penn Capital Management Co. Inc. raised its position in shares of Radiant Logistics by 119.1% in the second quarter. Penn Capital Management Co. Inc. now owns 825,123 shares of the company’s stock valued at $2,475,000 after buying an additional 448,598 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Radiant Logistics during the second quarter valued at $967,000. Nantahala Capital Management LLC raised its position in shares of Radiant Logistics by 6.7% in the first quarter. Nantahala Capital Management LLC now owns 2,748,540 shares of the company’s stock valued at $9,812,000 after buying an additional 173,368 shares during the period. BlackRock Fund Advisors raised its position in shares of Radiant Logistics by 19.4% in the second quarter. BlackRock Fund Advisors now owns 977,940 shares of the company’s stock valued at $2,934,000 after buying an additional 159,084 shares during the period. Finally, Cadence Capital Management LLC purchased a new position in shares of Radiant Logistics during the second quarter valued at $453,000.
About Radiant Logistics
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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