Radiant Logistics Inc (NASDAQ:RLGT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, July 12th.
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 (NASDAQ RLGT) traded up 0.43% on Wednesday, reaching $4.65. The company’s stock had a trading volume of 90,935 shares. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $6.65. The stock has a market capitalization of $225.89 million and a PE ratio of 70.45. The stock has a 50-day moving average of $5.22 and a 200 day moving average of $5.27.
Radiant Logistics (NASDAQ:RLGT) last posted its quarterly earnings data on Wednesday, May 10th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Radiant Logistics had a net margin of 0.51% and a return on equity of 1.28%. The firm had revenue of $181.77 million during the quarter, compared to analyst estimates of $177.15 million. During the same quarter last year, the business posted $0.04 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Radiant Logistics will post $0.27 EPS for the current year.
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Several large investors have recently modified their holdings of RLGT. Scout Investments Inc. raised its stake in shares of Radiant Logistics by 3.9% in the second quarter. Scout Investments Inc. now owns 272,525 shares of the company’s stock worth $1,466,000 after buying an additional 10,125 shares during the period. Federated Investors Inc. PA raised its stake in shares of Radiant Logistics by 675.8% in the second quarter. Federated Investors Inc. PA now owns 170,177 shares of the company’s stock worth $916,000 after buying an additional 148,241 shares during the period. Russell Investments Group Ltd. raised its stake 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 worth $659,000 after buying an additional 3,105 shares during the period. Strs Ohio raised its stake in shares of Radiant Logistics by 173.1% in the second quarter. Strs Ohio now owns 118,000 shares of the company’s stock worth $634,000 after buying an additional 74,800 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of Radiant Logistics during the second quarter worth approximately $383,000.
About Radiant Logistics
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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