Why Radiant Logistics, Inc. (RLGT) Is Up A Whooping 3.71% Today

Radiant Logistics, Inc. (NYSE:RLGT) is among the top gainers of the stock market today, skyrocketing 3.71% or (0.26 points) to $7.26 from its previous close of $7. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 191865 contracts so far this session. RLGT shares had a relatively better volume day versus average trading capacity of 439.69 thousand shares, but with a 35.75 million float and a 11.64% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RLGT stock indicates that the average analyst price target is $8 per share. This means the stock has a potential increase of 10.19% from where the RLGT share price has been trading recently which is between $6.85 and $7.33. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Radiant Logistics (RLGT) Soars to 52-Week High, Time to Cash Out?” and dated April 12, 2019.

During the recent trading session for Radiant Logistics, Inc. (NYSE:RLGT), the company witnessed their stock rise $0.72 over a week and surge $1.39 from the price 20 days ago. When compared to their established 52-week high of $7.33, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/17/19. The recent low of $3.46 stood for a -0.95% since 01/05/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.38 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Radiant Logistics, Inc., the two-week RSI stands at 70.79. This figure suggests that RLGT stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current RLGT readings is similarly very revealing as it has a stochastic reading of 88.23% at this stage. This figure means that RLGT share price today is being oversold.

Technical chart claims that Radiant Logistics, Inc. (RLGT) would settle between $7.27/share to $7.54/share level. However, if the stock price goes below the $6.79 mark, then the market for Radiant Logistics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.58 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.45. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Cowen lifted target price for shares of RLGT but were stick to Outperform recommendation for the stock in their opinion released on February 10. The price target has been raised from $5 to $7. Cowen, analysts launched coverage of Radiant Logistics, Inc. (NYSE:RLGT) stock with a Outperform recommendation, according to their flash note issued to investors on July 29. Analysts at Lake Street, made their first call for the equity with a Buy recommendation, according to a research note that dated back to June 16.

RLGT equity has an average rating of 1.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Radiant Logistics, Inc. (NYSE:RLGT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, RLGT stock price is currently trading at 13.38X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.32 while for the average stock in the same group, the multiple is 0.55. Radiant Logistics, Inc. current P/E ratio of 91.39 means it is trading at a premium against its industry’s 43.55. In the past 5 years, this ratio for the stock has been fluctuating between 18.61 and 95.51.

Radiant Logistics, Inc. (RLGT)’s current-quarter revenues are projected to climb by nearly 15.16% to hit $234840, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 13.55% from $842420 to a noteworthy $956560. At the other end of the current quarter income statement, Radiant Logistics, Inc. is expected to see its adjusted earnings surge by roughly 60% to hit $0.08 per share. For the fiscal year, RLGT’s earnings are projected to climb by roughly 62.07% to hit $0.47 per share.