Radiant Logistics (NYSEAMERICAN:RLGT) Price Target Raised to $11.00

Radiant Logistics (NYSEAMERICAN:RLGT) had its price target increased by Citizens Jmp from $10.00 to $11.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Separately, Citigroup restated a “market outperform” rating on shares of Radiant Logistics in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Radiant Logistics presently has a consensus rating of “Buy” and a consensus price target of $11.50.

Radiant Logistics Price Performance

Shares of RLGT opened at $9.47 on Tuesday. The business has a 50-day moving average of $8.94 and a 200-day moving average of $8.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 1.60. The company has a market capitalization of $444.90 million, a price-to-earnings ratio of 19.33 and a beta of 0.80. Radiant Logistics has a 1 year low of $5.86 and a 1 year high of $10.25.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Monday, November 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.09 by $0.09. The business had revenue of $279.79 million for the quarter, compared to analysts’ expectations of $243.75 million. Radiant Logistics had a return on equity of 12.45% and a net margin of 2.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Radiant Logistics in the second quarter worth approximately $27,173,000. North Star Investment Management Corp. lifted its stake in Radiant Logistics by 2.0% in the third quarter. North Star Investment Management Corp. now owns 239,625 shares of the company’s stock valued at $2,082,000 after buying an additional 4,625 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Radiant Logistics by 2.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 228,218 shares of the company’s stock worth $1,609,000 after buying an additional 6,098 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Radiant Logistics during the 2nd quarter worth approximately $1,566,000. Finally, Sei Investments Co. bought a new position in shares of Radiant Logistics during the 1st quarter worth approximately $943,000. 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 provider that arranges the movement and management of freight for businesses. Its services include domestic and international freight forwarding, truck brokerage, air and ocean shipping, customs brokerage, and other transportation and supply-chain solutions. The company uses a network of operating locations and independent agents to coordinate shipments across North America and international markets. Its services support customers with a range of freight needs, from routine transportation to specialized and time-sensitive shipments.