Radiant Logistics (NYSEAMERICAN:RLGT) Stock Price Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• Radiant Logistics shares rose above their 50-day moving average, reaching $8.85 and last trading at $8.81, compared with a 50-day average of $8.75.
• Analysts have turned more 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 EPS versus $0.06 expected and $261.44 million in revenue versus $231.34 million anticipated. Institutional investors own 53.59% of the company.

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Get Free Report) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $8.75 and traded as high as $8.85. Radiant Logistics shares last traded at $8.81, with a volume of 145,639 shares traded.

Analyst Upgrades and Downgrades

RLGT has been the topic of a number of recent analyst reports. Citigroup raised shares of Radiant Logistics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. 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 report on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $11.00.

Radiant Logistics Stock Performance

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's 50 day moving average price is $8.75 and its 200 day moving average price is $8.19. The company has a market capitalization of $413.89 million, a price-to-earnings ratio of 22.59 and a beta of 0.81.

Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last issued its quarterly earnings results on Monday, September 14th. The company reported $0.15 EPS for the quarter, beating 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 10.95% and a net margin of 2.01%.

Institutional Trading of Radiant Logistics

A number of large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in shares of Radiant Logistics by 21,368.8% during the 3rd quarter. IFP Advisors Inc now owns 3,435 shares of the company's stock worth $30,000 after purchasing an additional 3,419 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Radiant Logistics during the third quarter worth about $103,000. Blue Edge Capital LLC bought a new position in Radiant Logistics during the second quarter worth about $284,000. Empowered Funds LLC bought a new position in Radiant Logistics during the second quarter worth about $355,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Radiant Logistics during the second quarter worth approximately $130,000. Institutional investors and hedge funds 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.

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