Echo Global Logistics, Inc. (ECHO) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) from a hold rating to a sell rating in a report published on Monday, July 24th.

Several other research firms have also issued reports on ECHO. Macquarie reiterated an outperform rating and set a $29.00 price objective on shares of Echo Global Logistics in a research note on Monday, July 10th. Cowen and Company dropped their price objective on Echo Global Logistics from $25.00 to $23.00 and set an outperform rating for the company in a research note on Thursday, April 27th. Zacks Investment Research upgraded Echo Global Logistics from a sell rating to a hold rating in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc upgraded Echo Global Logistics from a neutral rating to a positive rating in a research note on Thursday, April 13th. Finally, UBS AG upgraded Echo Global Logistics from a neutral rating to a positive rating in a research note on Thursday, April 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $20.14.

Echo Global Logistics (NASDAQ ECHO) opened at 13.90 on Monday. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $28.90. The company’s market cap is $396.62 million. The stock’s 50 day moving average is $17.56 and its 200 day moving average is $19.99.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.02. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. The company had revenue of $470.10 million for the quarter, compared to analyst estimates of $470.25 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. On average, analysts predict that Echo Global Logistics will post $0.59 earnings per share for the current fiscal year.

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Echo Global Logistics declared that its Board of Directors has initiated a share buyback program on Monday, May 1st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $19.48, for a total transaction of $194,800.00. Following the transaction, the chief operating officer now owns 163,141 shares in the company, valued at $3,177,986.68. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.10% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ECHO. Great West Life Assurance Co. Can boosted its position in Echo Global Logistics by 6.7% in the first quarter. Great West Life Assurance Co. Can now owns 38,106 shares of the transportation company’s stock valued at $812,000 after buying an additional 2,398 shares during the period. Geneva Advisors LLC boosted its position in Echo Global Logistics by 5.4% in the first quarter. Geneva Advisors LLC now owns 34,840 shares of the transportation company’s stock valued at $744,000 after buying an additional 1,777 shares during the period. Russell Investments Group Ltd. boosted its position in Echo Global Logistics by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 584,095 shares of the transportation company’s stock valued at $12,471,000 after buying an additional 36,590 shares during the period. Nicolet Bankshares Inc. boosted its position in Echo Global Logistics by 6.4% in the first quarter. Nicolet Bankshares Inc. now owns 10,855 shares of the transportation company’s stock valued at $232,000 after buying an additional 650 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in Echo Global Logistics by 5.8% in the first quarter. Rice Hall James & Associates LLC now owns 619,702 shares of the transportation company’s stock valued at $13,231,000 after buying an additional 34,067 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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