Radiant Logistics Inc (NYSEAMERICAN:RLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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 reiterated a “buy” rating and set a $7.00 target price on shares of Radiant Logistics in a research note on Thursday, September 7th.
Shares of Radiant Logistics (RLGT) traded up $0.15 during trading on Wednesday, reaching $4.61. The company’s stock had a trading volume of 126,800 shares, compared to its average volume of 269,966. The firm has a market capitalization of $254.40, a PE ratio of 17.24 and a beta of 0.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. Radiant Logistics has a 12-month low of $3.30 and a 12-month high of $6.65.
Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Radiant Logistics had a return on equity of 12.51% and a net margin of 0.49%. The firm had revenue of $198.00 million during the quarter, compared to analysts’ expectations of $210.37 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Radiant Logistics’s revenue for the quarter was up 1.5% compared to the same quarter last year. analysts expect that Radiant Logistics will post 0.27 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in RLGT. Russell Investments Group Ltd. boosted its holdings in shares of Radiant Logistics by 2.6% in the second quarter. Russell Investments Group Ltd. now owns 122,292 shares of the company’s stock valued at $659,000 after purchasing an additional 3,105 shares during the period. Strs Ohio increased its position in shares of Radiant Logistics by 173.1% during the second quarter. Strs Ohio now owns 118,000 shares of the company’s stock worth $634,000 after purchasing an additional 74,800 shares in the last quarter. Eagle Global Advisors LLC increased its position in shares of Radiant Logistics by 180.0% during the second quarter. Eagle Global Advisors LLC now owns 56,330 shares of the company’s stock worth $303,000 after purchasing an additional 36,210 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Radiant Logistics during the second quarter worth $383,000. Finally, Rhumbline Advisers increased its position in shares of Radiant Logistics by 18.8% during the second quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock worth $206,000 after purchasing an additional 6,080 shares in the last quarter. Institutional investors and hedge funds own 39.47% of the company’s stock.
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.
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