Radiant Logistics (NYSEAMERICAN:RLGT) Stock Price Up 1.5% – Still a Buy?

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT)’s share price traded up 1.5% during trading on Monday . The company traded as high as $6.64 and last traded at $6.57. 173,537 shares traded hands during trading, an increase of 6% from the average session volume of 163,329 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

Separately, Lake Street Capital cut their target price on Radiant Logistics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.00.

Radiant Logistics Trading Up 1.5%

The firm’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $307.94 million, a price-to-earnings ratio of 21.19 and a beta of 0.72.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its earnings results on Monday, November 10th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Radiant Logistics had a return on equity of 12.43% and a net margin of 1.64%.The firm had revenue of $226.66 million for the quarter, compared to the consensus estimate of $206.64 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Radiant Logistics by 9.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 41,044 shares of the company’s stock valued at $242,000 after purchasing an additional 3,420 shares in the last quarter. Algert Global LLC bought a new position in Radiant Logistics in the 3rd quarter valued at approximately $89,000. Ameriprise Financial Inc. boosted its position in Radiant Logistics by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after buying an additional 148,381 shares in the last quarter. Two Sigma Investments LP boosted its position in Radiant Logistics by 12.6% in the third quarter. Two Sigma Investments LP now owns 187,982 shares of the company’s stock valued at $1,109,000 after buying an additional 21,039 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Radiant Logistics by 11.9% during the third quarter. Boston Partners now owns 106,949 shares of the company’s stock worth $631,000 after buying an additional 11,365 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Radiant Logistics Company Profile

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.