Zacks Investment Research upgraded shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a hold rating to a strong-buy rating in a report published on Tuesday, Zacks.com reports. They currently have $6.50 price objective 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 Radiant Logistics and gave the company a buy rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $7.50.
Radiant Logistics (NYSEAMERICAN:RLGT) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $204.65 million during the quarter, compared to the consensus estimate of $220.47 million.
Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Radiant Logistics by 191.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,807,974 shares of the company’s stock worth $11,099,000 after buying an additional 1,187,090 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Radiant Logistics during the 2nd quarter worth $6,658,000. Boston Partners raised its holdings in shares of Radiant Logistics by 579.7% during the 2nd quarter. Boston Partners now owns 1,086,342 shares of the company’s stock worth $6,670,000 after buying an additional 926,522 shares in the last quarter. River & Mercantile Asset Management LLP acquired a new position in shares of Radiant Logistics during the 2nd quarter worth $3,081,000. Finally, Ancora Advisors LLC raised its holdings in shares of Radiant Logistics by 258.9% during the 2nd quarter. Ancora Advisors LLC now owns 617,344 shares of the company’s stock worth $3,790,000 after buying an additional 445,339 shares in the last quarter. Hedge funds and other institutional investors own 39.47% of the company’s stock.
About Radiant Logistics
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.
Featured Article: What is the significance of the death cross?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Radiant Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radiant Logistics and related companies with MarketBeat.com's FREE daily email newsletter.