Radiant Logistics, Inc. (RLGT) Downgraded to Sell at Zacks Investment Research

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Radiant Logistics is executing a strategy to build a global transportation and supply chain management company through organic growth and the strategic acquisition of regional best-of-breed non- asset based transportation and logistics providers to offer its customers domestic and international freight forwarding and an expanding array of value added supply chain management services, including asset recovery and reverse logistics, order fulfillment, inventory management and warehousing. “

Radiant Logistics (NYSEAMERICAN RLGT) opened at $4.34 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $254.40, a P/E ratio of 17.24 and a beta of 0.80. Radiant Logistics has a 12-month low of $3.29 and a 12-month high of $6.65.

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A hedge fund recently raised its stake in Radiant Logistics stock. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) by 33.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,200 shares of the company’s stock after buying an additional 11,100 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.09% of Radiant Logistics worth $233,000 at the end of the most recent quarter. Institutional investors and hedge funds own 39.47% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.

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