Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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 restated a “buy” rating and set a $7.00 price target on shares of Radiant Logistics in a report on Thursday, September 7th.
Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Radiant Logistics had a net margin of 0.45% and a return on equity of 1.03%. The company had revenue of $198.00 million for the quarter, compared to the consensus estimate of $210.37 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Radiant Logistics’s revenue was up 1.5% compared to the same quarter last year. equities analysts forecast that Radiant Logistics will post 0.27 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Radiant Logistics by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock worth $172,000 after buying an additional 489 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Radiant Logistics by 2.6% in the 2nd 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 in the last quarter. Voya Investment Management LLC increased its holdings in Radiant Logistics by 15.3% in the 2nd quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock worth $148,000 after buying an additional 3,640 shares in the last quarter. Rhumbline Advisers increased its holdings in Radiant Logistics by 18.8% in the 2nd quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock worth $206,000 after buying an additional 6,080 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Radiant Logistics by 8.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 88,298 shares of the company’s stock worth $475,000 after buying an additional 6,699 shares in the last quarter. Institutional investors own 39.47% of the company’s stock.
Radiant Logistics Company Profile
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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