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

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

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

Radiant Logistics Stock Up 2.8%

Radiant Logistics stock opened at $9.14 on Tuesday. The firm has a market cap of $429.40 million, a price-to-earnings ratio of 23.44 and a beta of 0.80. The stock has a fifty day simple moving average of $8.86 and a two-hundred day simple moving average of $8.31. Radiant Logistics has a 12 month low of $5.86 and a 12 month high of $10.20. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.11.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Radiant Logistics had a return on equity of 10.95% and a net margin of 2.01%. The firm had revenue of $279.79 million for the quarter, compared to the consensus estimate of $246.25 million.

Institutional Trading of Radiant Logistics

Several large investors have recently modified their holdings of RLGT. Sei Investments Co. purchased a new stake in Radiant Logistics during the first quarter valued at approximately $943,000. Bank of New York Mellon Corp bought a new position in Radiant Logistics in the second quarter worth approximately $1,227,000. BlackRock Inc. purchased a new position in shares of Radiant Logistics during the 2nd quarter worth $27,173,000. Bank of America Corp DE purchased a new position in shares of Radiant Logistics during the 2nd quarter worth $1,566,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Radiant Logistics during the 2nd quarter worth $813,000. Institutional investors own 53.59% of the company’s stock.

Radiant Logistics Company Profile

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.