Radiant Logistics Inc (NASDAQ:RLGT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Radiant Logistics Inc (NASDAQ:RLGT) from a hold rating to a buy rating in a report published on Wednesday, July 19th. Zacks Investment Research currently has $6.00 price target 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. “

Shares of Radiant Logistics (RLGT) traded up 4.39% during mid-day trading on Wednesday, reaching $4.52. The company had a trading volume of 228,145 shares. The company has a market capitalization of $219.57 million and a PE ratio of 68.48. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $6.65. The stock’s 50-day moving average price is $5.30 and its 200 day moving average price is $5.28.

Radiant Logistics (NASDAQ:RLGT) last issued its earnings results on Wednesday, May 10th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $181.77 million during the quarter, compared to analysts’ expectations of $177.15 million. Radiant Logistics had a return on equity of 1.28% and a net margin of 0.51%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Equities analysts expect that Radiant Logistics will post $0.27 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC acquired a new position in shares of Radiant Logistics during the second quarter valued at approximately $383,000. Eagle Global Advisors LLC raised its position in shares of Radiant Logistics by 180.0% in the second quarter. Eagle Global Advisors LLC now owns 56,330 shares of the company’s stock valued at $303,000 after buying an additional 36,210 shares during the period. Strs Ohio raised its position in shares of Radiant Logistics by 173.1% in the second quarter. Strs Ohio now owns 118,000 shares of the company’s stock valued at $634,000 after buying an additional 74,800 shares during the period. Finally, Russell Investments Group Ltd. raised its position 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 buying an additional 3,105 shares during the period.

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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