Radiant Logistics (NYSEAMERICAN:RLGT) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a hold rating to a strong-buy rating in a report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $6.50 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. “
Separately, Cowen set a $7.00 target price on shares of Radiant Logistics and gave the company a buy rating in a research report on Friday, September 13th. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $7.50.
Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $204.65 million for the quarter, compared to the consensus estimate of $220.47 million.
A number of hedge funds and other institutional investors have recently bought and sold shares of RLGT. Dimensional Fund Advisors LP increased its position in Radiant Logistics by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,062,334 shares of the company’s stock valued at $8,765,000 after purchasing an additional 17,153 shares during the period. BNP Paribas Arbitrage SA increased its position in Radiant Logistics by 508.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,114 shares of the company’s stock valued at $51,000 after purchasing an additional 6,781 shares during the period. State Board of Administration of Florida Retirement System increased its position in Radiant Logistics by 75.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 116,252 shares of the company’s stock valued at $732,000 after purchasing an additional 49,873 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Radiant Logistics by 4.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 138,253 shares of the company’s stock valued at $871,000 after purchasing an additional 6,183 shares during the period. Finally, Wasatch Advisors Inc. increased its position in Radiant Logistics by 7.7% during the 1st quarter. Wasatch Advisors Inc. now owns 885,022 shares of the company’s stock valued at $5,576,000 after purchasing an additional 63,384 shares during the period. 39.47% of the stock is currently owned by institutional investors and hedge funds.
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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