Radiant Logistics (NYSEAMERICAN:RLGT – Get Rating) updated its fourth quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.40-$0.40 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $398.61 million-$398.61 million, compared to the consensus revenue estimate of $362.76 million.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of Radiant Logistics from a buy rating to a hold rating in a report on Friday.
Get Radiant Logistics alerts:Radiant Logistics Price Performance
RLGT traded down $0.26 during trading on Tuesday, reaching $6.73. The stock had a trading volume of 211,413 shares, compared to its average volume of 145,725. The stock has a 50 day moving average of $7.30 and a two-hundred day moving average of $6.76. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $332.75 million, a price-to-earnings ratio of 8.74 and a beta of 0.93. Radiant Logistics has a 1-year low of $5.66 and a 1-year high of $8.74.
Institutional Investors Weigh In On Radiant Logistics
Several hedge funds have recently modified their holdings of the stock. Covestor Ltd bought a new stake in Radiant Logistics in the first quarter worth approximately $36,000. Shay Capital LLC bought a new position in Radiant Logistics during the first quarter valued at about $64,000. Mackenzie Financial Corp acquired a new stake in shares of Radiant Logistics in the first quarter worth about $72,000. Occudo Quantitative Strategies LP bought a new stake in shares of Radiant Logistics during the 2nd quarter worth about $97,000. Finally, PDT Partners LLC bought a new stake in shares of Radiant Logistics during the 1st quarter worth about $85,000. 56.81% of the stock is owned by hedge funds and other institutional investors.Radiant Logistics Company Profile
(Get Rating)
Radiant Logistics, Inc, a third-party logistics company, provides multi-modal transportation and logistics services 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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