Zacks Investment Research upgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $6.00 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. “
Radiant Logistics (RLGT) traded down 0.19% during midday trading on Wednesday, hitting $5.29. 203,067 shares of the stock traded hands. The stock has a market cap of $256.98 million and a PE ratio of 80.15. Radiant Logistics has a 12 month low of $2.45 and a 12 month high of $6.65. The company has a 50-day moving average of $5.45 and a 200-day moving average of $5.21.
Radiant Logistics (NASDAQ:RLGT) last announced its quarterly earnings data on Wednesday, May 10th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Radiant Logistics had a return on equity of 1.28% and a net margin of 0.51%. The firm had revenue of $181.77 million during the quarter, compared to analysts’ expectations of $177.15 million. During the same period last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Radiant Logistics will post $0.27 earnings per share for the current year.
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About Radiant Logistics
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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