Radiant Logistics (NYSEAMERICAN:RLGT) Stock Gets Price Target Bump from Citizens Jmp

Radiant Logistics (NYSEAMERICAN:RLGT) had its price target increased by Citizens Jmp from $10.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp‘s price target points to a potential upside of 20.35% from the company’s previous close.

Separately, Citigroup restated a “market outperform” rating on shares of Radiant Logistics in a research note on Tuesday. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat, Radiant Logistics currently has an average rating of “Buy” and a consensus price target of $11.50.

Radiant Logistics Stock Up 2.8%

RLGT stock opened at $9.14 on Tuesday. The business’s 50-day moving average price is $8.86 and its 200-day moving average price is $8.31. The stock has a market cap of $429.40 million, a P/E ratio of 23.44 and a beta of 0.80. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.11. Radiant Logistics has a twelve month low of $5.86 and a twelve month high of $10.20.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.18 earnings per share 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 the consensus estimate of $246.25 million. Radiant Logistics had a net margin of 2.01% and a return on equity of 10.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RLGT. Janney Montgomery Scott LLC raised its position in shares of Radiant Logistics by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,049 shares of the company’s stock worth $536,000 after acquiring an additional 1,684 shares in the last quarter. Verus Capital Partners LLC increased its stake in Radiant Logistics by 13.9% during the 3rd quarter. Verus Capital Partners LLC now owns 25,350 shares of the company’s stock valued at $220,000 after purchasing an additional 3,100 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Radiant Logistics by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 115,948 shares of the company’s stock worth $817,000 after acquiring an additional 3,150 shares during the last quarter. IFP Advisors Inc lifted its position in 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 acquiring an additional 3,419 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Radiant Logistics during the 2nd quarter worth about $36,000. 53.59% of the stock is currently 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.