Radiant Logistics (NYSEAMERICAN:RLGT) Rating Increased to Buy at Zacks Investment Research

Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage presently has a $6.25 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.37% from the company’s current price.

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. “

Separately, Cowen reaffirmed a “buy” rating on shares of Alector in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Radiant Logistics currently has an average rating of “Buy” and an average price target of $7.42.

Radiant Logistics stock opened at $5.28 on Friday. Radiant Logistics has a 12-month low of $3.93 and a 12-month high of $7.33.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $206.05 million for the quarter, compared to analyst estimates of $234.84 million.

In other news, COO E Joseph Bento sold 9,779 shares of Radiant Logistics stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $6.53, for a total value of $63,856.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RLGT. Campbell & CO Investment Adviser LLC raised its position in shares of Radiant Logistics by 9.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 37,919 shares of the company’s stock worth $233,000 after buying an additional 3,228 shares in the last quarter. Carillon Tower Advisers Inc. raised its holdings in shares of Radiant Logistics by 1.2% in the 1st quarter. Carillon Tower Advisers Inc. now owns 326,350 shares of the company’s stock worth $2,056,000 after purchasing an additional 3,800 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Radiant Logistics by 40.7% in the 1st quarter. Virtu Financial LLC now owns 19,947 shares of the company’s stock worth $126,000 after purchasing an additional 5,768 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Radiant Logistics by 4.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 138,253 shares of the company’s stock worth $871,000 after purchasing an additional 6,183 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Radiant Logistics by 508.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,114 shares of the company’s stock worth $51,000 after purchasing an additional 6,781 shares in the last quarter. 39.47% of the stock is owned by hedge funds and other institutional investors.

Radiant Logistics Company Profile

Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.

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