Radiant Logistics (NYSEAMERICAN:RLGT) Raised to “Market Outperform” at Citizens Jmp

Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a research report issued on Tuesday, Benzinga reports. The firm presently has a $10.00 target price on the stock. Citizens Jmp’s price objective would suggest a potential upside of 21.80% from the company’s previous close.

Several other research firms also recently weighed in on RLGT. Lake Street Capital raised their target price on Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Citigroup upgraded Radiant Logistics from a “market perform” rating to an “outperform” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $11.00.

Radiant Logistics Stock Up 1.0%

RLGT opened at $8.21 on Tuesday. Radiant Logistics has a twelve month low of $5.78 and a twelve month 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 50-day moving average price of $8.68 and a 200 day moving average price of $8.31. The company has a market cap of $384.47 million, a PE ratio of 24.15 and a beta of 0.82.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Monday, September 14th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.The company had revenue of $261.44 million for the quarter, compared to analysts’ expectations of $231.34 million.

Institutional Trading of Radiant Logistics

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Radiant Logistics in the 2nd quarter worth $27,173,000. Royce & Associates LP increased its holdings in shares of Radiant Logistics by 5.3% during the 4th quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after buying an additional 113,720 shares during the last quarter. Rothschild Wealth LLC purchased a new stake in shares of Radiant Logistics during the 4th quarter valued at approximately $1,808,000. North Star Investment Management Corp. acquired a new position in Radiant Logistics in the first quarter valued at approximately $1,657,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Radiant Logistics by 2.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 228,218 shares of the company’s stock worth $1,609,000 after acquiring an additional 6,098 shares during the period. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About Radiant Logistics

Radiant Logistics, Inc is a third-party logistics company that provides transportation and supply chain management services to manufacturers, distributors, retailers and other commercial customers. The company operates an asset-light model, coordinating shipments through a network of company-operated locations and independent agents rather than relying primarily on its own transportation equipment.

Its services include domestic and international freight forwarding, truckload and less-than-truckload transportation, expedited shipping, air and ocean freight, customs-related services, warehousing and distribution.