Radiant Logistics (NYSEAMERICAN:RLGT) Shares Break Above 50 Day Moving Average – Here’s What Happened

Shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) crossed above its fifty day moving average during trading on Monday. The stock has a fifty 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 trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on RLGT shares. Citizens Jmp upgraded shares of Radiant Logistics from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research report on Tuesday, September 15th. Citigroup raised shares of Radiant Logistics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $11.00.

Radiant Logistics Stock Performance

The firm has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $8.21. 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 $424.70 million, a price-to-earnings ratio of 23.18 and a beta of 0.81.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced 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 business 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

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

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.