Radiant Logistics (NYSEAMERICAN:RLGT) Stock Jumps 0.2% – Should You Buy?

Shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) rose 0.2% on Friday. The stock traded as high as $8.74 and last traded at $8.72. 131,678 shares traded hands during trading, a decline of 17% from the average daily volume of 158,746 shares. The stock had previously closed at $8.70.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citizens Jmp upgraded Radiant Logistics from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research note on Tuesday, September 15th. Citigroup upgraded Radiant Logistics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.00.

Radiant Logistics Trading Up 0.2%

The stock’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $8.68. The firm has a market cap of $409.67 million, a PE ratio of 22.36 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.60 and a quick ratio of 1.60.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Monday, September 14th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Radiant Logistics had a net margin of 2.01% and a return on equity of 10.95%. The business had revenue of $261.44 million during the quarter, compared to the consensus estimate of $231.34 million.

Institutional Investors Weigh In On Radiant Logistics

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Radiant Logistics in the 2nd quarter valued at $27,173,000. North Star Investment Management Corp. acquired a new stake in Radiant Logistics during the first quarter worth about $1,657,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Radiant Logistics by 2.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 228,218 shares of the company’s stock worth $1,609,000 after purchasing an additional 6,098 shares during the period. Bank of America Corp DE acquired a new stake in Radiant Logistics during the second quarter valued at $1,566,000. Finally, Bank of New York Mellon Corp acquired a new stake in Radiant Logistics during the second quarter valued at $1,227,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc is a third-party logistics company that provides domestic and international transportation and supply-chain services. Its offerings include freight forwarding, truckload and less-than-truckload transportation, expedited shipping, air and ocean freight, warehousing, distribution, and related logistics management services.

The company operates an asset-light business model supported by a network of company-owned and independent operating locations. Radiant coordinates shipments for businesses across a range of industries, helping customers manage transportation, fulfillment, and other supply-chain requirements without maintaining extensive transportation infrastructure of their own.

Founded in 2001 and headquartered in Bellevue, Washington, Radiant serves customers throughout North America and supports international shipments through its global logistics network.