Radiant Logistics (NYSEAMERICAN:RLGT) Stock Rating Upgraded by Citizens Jmp

Key Points

• Citizens Jmp upgraded Radiant Logistics from “market perform” to “market outperform” and set a $10 price target, implying 21.8% upside from the reported $8.21 share price.
• Radiant Logistics reported quarterly EPS of $0.15, beating the $0.06 consensus estimate, while revenue of $261.44 million exceeded expectations of $231.34 million.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and an average price target of $11.00; institutional investors and hedge funds own 53.59% of shares.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) was upgraded by equities research analysts at Citizens Jmp from a "market perform" rating to a "market outperform" rating in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a $10.00 price objective on the stock. Citizens Jmp's target price would indicate a potential upside of 21.80% from the company's current price.

RLGT has been the topic of several other reports. Citigroup upgraded shares of Radiant Logistics from a "market perform" rating to an "outperform" rating in a research note on Tuesday. Lake Street Capital upped their price target on shares of Radiant Logistics from $10.00 to $12.00 and gave the company a "buy" rating in a report on Monday, June 8th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $11.00.

Radiant Logistics Stock Up 1.0%

Shares of RLGT stock opened at $8.21 on Tuesday. The stock's 50-day simple moving average is $8.68 and its 200-day simple moving average is $8.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market capitalization of $384.47 million, a PE ratio of 24.15 and a beta of 0.82. Radiant Logistics has a fifty-two week low of $5.78 and a fifty-two week high of $9.68.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last announced 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. The firm had revenue of $261.44 million during the quarter, compared to analysts' expectations of $231.34 million. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.

Hedge Funds Weigh In On Radiant Logistics

Several large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Radiant Logistics in the 2nd quarter valued at about $27,173,000. Royce & Associates LP boosted its position in Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company's stock worth $14,397,000 after purchasing an additional 113,720 shares in the last quarter. Rothschild Wealth LLC acquired a new stake in Radiant Logistics in the fourth quarter valued at approximately $1,808,000. North Star Investment Management Corp. acquired a new stake in Radiant Logistics in the first quarter valued at approximately $1,657,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Radiant Logistics by 2.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 228,218 shares of the company's stock valued at $1,609,000 after buying an additional 6,098 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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