Radiant Logistics (NYSEAMERICAN:RLGT) announced that its Board of Directors has initiated a stock buyback plan, which authorizes the company to repurchase 5,000,000 outstanding shares on Tuesday, March 13th, EventVestor reports. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several analysts have recently issued reports on the company. Cowen reduced their price objective on Radiant Logistics from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Zacks Investment Research downgraded Radiant Logistics from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.
Shares of Radiant Logistics (NYSEAMERICAN RLGT) traded up $0.34 during trading hours on Wednesday, hitting $4.15. The stock had a trading volume of 42,543 shares, compared to its average volume of 136,374. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 1.18. Radiant Logistics has a twelve month low of $3.51 and a twelve month high of $6.65. The stock has a market capitalization of $190.99, a P/E ratio of 388.00 and a beta of 0.79.
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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