Zacks Investment Research upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $27.00 price objective on the transportation company’s stock.
According to Zacks, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois. “
A number of other equities research analysts have also weighed in on ECHO. BidaskClub lowered shares of Echo Global Logistics from a sell rating to a strong sell rating in a report on Tuesday, November 13th. Loop Capital upgraded shares of Echo Global Logistics from a hold rating to a buy rating and lifted their price target for the stock from $30.00 to $31.00 in a research note on Monday, October 29th. Barrington Research cut their price target on shares of Echo Global Logistics from $37.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, October 26th. Morgan Stanley set a $22.00 price target on shares of Echo Global Logistics and gave the stock a sell rating in a research note on Monday, October 22nd. Finally, ValuEngine lowered shares of Echo Global Logistics from a hold rating to a sell rating in a research note on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $30.90.
NASDAQ:ECHO opened at $23.91 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market cap of $682.57 million, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.89. Echo Global Logistics has a 52 week low of $18.83 and a 52 week high of $36.75.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, February 6th. The transportation company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. Echo Global Logistics had a return on equity of 12.01% and a net margin of 1.18%. The company had revenue of $583.00 million during the quarter, compared to analyst estimates of $587.32 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, analysts predict that Echo Global Logistics will post 1.61 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ECHO. Lido Advisors LLC purchased a new stake in shares of Echo Global Logistics in the third quarter valued at about $263,000. Bowling Portfolio Management LLC purchased a new stake in shares of Echo Global Logistics in the third quarter valued at about $248,000. BlackRock Inc. boosted its holdings in shares of Echo Global Logistics by 5.6% in the third quarter. BlackRock Inc. now owns 4,274,645 shares of the transportation company’s stock valued at $132,301,000 after acquiring an additional 226,616 shares in the last quarter. Stone Ridge Asset Management LLC boosted its holdings in shares of Echo Global Logistics by 53.9% in the third quarter. Stone Ridge Asset Management LLC now owns 16,687 shares of the transportation company’s stock valued at $516,000 after acquiring an additional 5,846 shares in the last quarter. Finally, Matarin Capital Management LLC purchased a new stake in shares of Echo Global Logistics in the third quarter valued at about $1,006,000. Institutional investors own 98.74% of the company’s stock.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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