Citizens Jmp Begins Coverage on Radiant Logistics (NYSEAMERICAN:RLGT)

Analysts at Citizens Jmp began coverage on shares of Radiant Logistics (NYSEAMERICAN:RLGT) in a research note issued on Wednesday. The firm set a “market perform” rating on the stock.

RLGT has been the subject of several other reports. Lake Street Capital boosted their target price on shares of Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Citigroup initiated coverage on shares of Radiant Logistics in a report on Wednesday. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Radiant Logistics Stock Down 0.3%

Shares of RLGT opened at $9.31 on Wednesday. Radiant Logistics has a 52 week low of $5.78 and a 52 week high of $9.68. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $435.99 million, a price-to-earnings ratio of 27.38 and a beta of 0.81. The stock’s 50-day moving average price is $8.84 and its 200-day moving average price is $7.79.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its earnings results on Monday, May 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $214.13 million for the quarter, compared to analyst estimates of $222.60 million. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.

Insider Activity at Radiant Logistics

In other news, CFO Todd Macomber sold 11,868 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.25, for a total transaction of $109,779.00. Following the completion of the transaction, the chief financial officer directly owned 87,249 shares of the company’s stock, valued at $807,053.25. This represents a 11.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Radiant Logistics

A number of institutional investors have recently added to or reduced their stakes in RLGT. Royce & Associates LP raised its position in Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after acquiring an additional 113,720 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock worth $7,946,000 after purchasing an additional 148,381 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Radiant Logistics by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock worth $5,283,000 after purchasing an additional 24,150 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Radiant Logistics by 4.3% during the 4th quarter. Russell Investments Group Ltd. now owns 594,532 shares of the company’s stock worth $3,763,000 after purchasing an additional 24,506 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Radiant Logistics by 24.2% during the 2nd quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after purchasing an additional 87,436 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.