Zacks Investment Research Upgrades Radiant Logistics (RLGT) to “Buy”
Zacks Investment Research upgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $7.25 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. “
A number of other brokerages have also issued reports on RLGT. Seaport Global Securities restated a buy rating on shares of Radiant Logistics in a research report on Monday, February 4th. TheStreet upgraded shares of Radiant Logistics from a c+ rating to a b rating in a research report on Monday, March 4th. Finally, Cowen restated a buy rating and set a $7.00 target price on shares of Radiant Logistics in a research report on Monday. Four analysts have rated the stock with a buy rating, Radiant Logistics currently has an average rating of Buy and a consensus price target of $7.75.
Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $206.05 million during the quarter, compared to analysts’ expectations of $234.84 million.
A number of institutional investors have recently added to or reduced their stakes in RLGT. Renaissance Technologies LLC purchased a new stake in Radiant Logistics during the 3rd quarter worth about $1,925,000. Avalon Advisors LLC purchased a new stake in shares of Radiant Logistics during the 1st quarter worth about $1,730,000. Quantum Capital Management purchased a new stake in shares of Radiant Logistics during the 1st quarter worth about $1,674,000. Oxford Asset Management LLP grew its holdings in shares of Radiant Logistics by 407.5% during the 1st quarter. Oxford Asset Management LLP now owns 300,963 shares of the company’s stock worth $1,896,000 after purchasing an additional 241,661 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Radiant Logistics during the 4th quarter worth about $869,000. 39.47% of the stock is owned by institutional investors.
Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
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