Radiant Logistics Inc (RLGT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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 and Company reissued a buy rating and issued a $7.00 target price on shares of Radiant Logistics in a report on Thursday, September 7th.

Shares of Radiant Logistics (NASDAQ:RLGT) remained flat at $5.05 during trading on Friday. The stock had a trading volume of 341,100 shares. Radiant Logistics has a 52 week low of $2.46 and a 52 week high of $6.65. The stock has a market cap of $245.32 million and a PE ratio of 76.52. The company has a 50-day moving average price of $4.77 and a 200-day moving average price of $5.37.

Radiant Logistics (NASDAQ:RLGT) last posted its earnings results on Tuesday, September 12th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $187.91 million. Radiant Logistics had a net margin of 0.51% and a return on equity of 1.28%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities analysts forecast that Radiant Logistics will post $0.32 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Radiant Logistics Inc (RLGT) Downgraded by Zacks Investment Research to Sell” was first reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://transcriptdaily.com/2017/09/17/radiant-logistics-inc-rlgt-downgraded-by-zacks-investment-research-to-sell.html.

A number of hedge funds and other institutional investors have recently modified their holdings of RLGT. Voya Investment Management LLC raised its holdings in Radiant Logistics by 15.3% in the 2nd quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock valued at $148,000 after buying an additional 3,640 shares during the last quarter. Prudential Financial Inc. bought a new position in Radiant Logistics in the 2nd quarter valued at approximately $153,000. The Manufacturers Life Insurance Company raised its holdings in Radiant Logistics by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock valued at $172,000 after buying an additional 489 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Radiant Logistics in the 2nd quarter valued at approximately $178,000. Finally, Hancock Holding Co. bought a new position in Radiant Logistics in the 2nd quarter valued at approximately $181,000.

Radiant Logistics Company Profile

Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.

Receive News & Ratings for Radiant Logistics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radiant Logistics Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply