Radiant Logistics (NYSEAMERICAN:RLGT) Stock Jumps 0.2% – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RLGT. Citigroup raised Radiant Logistics from a “market perform” rating to an “outperform” rating in a research note 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 target price for the company in a research report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat, Radiant Logistics currently has a consensus rating of “Buy” and an average target price of $11.00.

Radiant Logistics Stock Performance

The firm has a fifty day simple moving average of $8.75 and a 200 day simple moving average of $8.68. 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 price-to-earnings ratio of 22.36 and a beta of 0.81.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Monday, September 14th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $261.44 million for the quarter, compared to analyst estimates of $231.34 million. Radiant Logistics had a return on equity of 10.95% and a net margin of 2.01%.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in Radiant Logistics by 21,368.8% in the third quarter. IFP Advisors Inc now owns 3,435 shares of the company’s stock valued at $30,000 after acquiring an additional 3,419 shares during the period. Legal & General Group Plc acquired a new position in shares of Radiant Logistics in the 2nd quarter worth approximately $36,000. Ritholtz Wealth Management acquired a new position in shares of Radiant Logistics in the 1st quarter worth approximately $77,000. State of Alaska Department of Revenue acquired a new position in shares of Radiant Logistics in the 3rd quarter worth approximately $103,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Radiant Logistics during the 2nd quarter worth approximately $130,000. 53.59% of the stock is owned by institutional investors.

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.