Radiant Logistics (NYSEAMERICAN:RLGT) Shares Up 0.2% - Still a Buy?

Key Points

• Radiant Logistics shares rose 0.2% to $8.72 in mid-day trading, with volume 17% below the average session level.
• Analysts remain bullish: Citigroup and Citizens JMP upgraded the stock to “outperform,” while four analysts rate it a Buy. The consensus price target is $11.00, above the current price.
• Radiant exceeded quarterly expectations, reporting $0.15 in adjusted earnings per share versus estimates of $0.06 and revenue of $261.44 million versus the $231.34 million consensus. Institutional ownership stands at 53.59%.

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report)'s stock price shot up 0.2% during mid-day trading on Friday. The company traded as high as $8.74 and last traded at $8.72. 131,678 shares changed hands during trading, a decline of 17% from the average session volume of 158,746 shares. The stock had previously closed at $8.70.

Wall Street Analyst Weigh In

RLGT has been the topic of several analyst reports. Citigroup raised Radiant Logistics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Citizens Jmp raised shares of Radiant Logistics from a "market perform" rating to an "outperform" rating and set a $10.00 price target for the company in a report on Tuesday, September 15th. Four analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.00.

Radiant Logistics Trading Up 0.2%

The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.11. The stock has a market cap of $409.67 million, a P/E ratio of 22.36 and a beta of 0.81. The firm's 50-day simple moving average is $8.75 and its 200 day simple moving average is $8.68.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last released its quarterly earnings results on Monday, September 14th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.09. The company had revenue of $261.44 million for the quarter, compared to analysts' expectations of $231.34 million. Radiant Logistics had a return on equity of 10.95% and a net margin of 2.01%.

Institutional Investors Weigh In On Radiant Logistics

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Radiant Logistics during the 2nd quarter worth approximately $27,173,000. North Star Investment Management Corp. acquired a new position in Radiant Logistics in the 1st quarter valued at approximately $1,657,000. Bank of America Corp DE purchased a new stake in Radiant Logistics in the 2nd quarter worth approximately $1,566,000. Sei Investments Co. acquired a new stake in shares of Radiant Logistics during the 1st quarter valued at $943,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Radiant Logistics during the 2nd quarter valued at $1,227,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Radiant Logistics Company Profile

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.

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