Zacks Investment Research Downgrades Radiant Logistics Inc (RLGT) to Sell

Zacks Investment Research downgraded shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) from a hold rating to a sell rating in a research report released on Wednesday morning.

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 and Company reiterated a buy rating and set a $7.00 price objective on shares of Radiant Logistics in a research report on Thursday, September 7th.

Radiant Logistics (NYSEAMERICAN RLGT) opened at $4.76 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 company has a market capitalization of $241.32, a PE ratio of 17.24 and a beta of 0.80. Radiant Logistics has a 1 year low of $3.30 and a 1 year high of $6.65.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $198.00 million for the quarter, compared to the consensus estimate of $210.37 million. Radiant Logistics had a net margin of 0.49% and a return on equity of 12.51%. Radiant Logistics’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. sell-side analysts anticipate that Radiant Logistics will post 0.27 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. grew its position in Radiant Logistics by 33.5% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 44,200 shares of the company’s stock worth $233,000 after acquiring an additional 11,100 shares during the last quarter. 22NW LP grew its position in Radiant Logistics by 5.2% during the 3rd quarter. 22NW LP now owns 1,212,664 shares of the company’s stock worth $6,439,000 after acquiring an additional 59,511 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Radiant Logistics by 21.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,558,989 shares of the company’s stock worth $8,278,000 after acquiring an additional 270,753 shares during the last quarter. BB&T Securities LLC grew its position in Radiant Logistics by 30.3% during the 3rd quarter. BB&T Securities LLC now owns 61,096 shares of the company’s stock worth $324,000 after acquiring an additional 14,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Radiant Logistics by 22.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 82,934 shares of the company’s stock worth $441,000 after acquiring an additional 15,180 shares during the last 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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