Morgan Stanley Raises Echo Global Logistics, Inc. (ECHO) Price Target to $15.00

Echo Global Logistics, Inc. (NASDAQ:ECHO) had its price target upped by Morgan Stanley from $14.00 to $15.00 in a research note released on Thursday, October 26th. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.

A number of other equities analysts also recently commented on ECHO. ValuEngine upgraded Echo Global Logistics from a sell rating to a hold rating in a research report on Monday, October 2nd. Cowen and Company reiterated a buy rating and issued a $19.00 price objective on shares of Echo Global Logistics in a report on Wednesday, October 4th. Stifel Nicolaus reiterated a buy rating on shares of Echo Global Logistics in a report on Wednesday, July 19th. William Blair reiterated a market perform rating on shares of Echo Global Logistics in a report on Friday, July 28th. Finally, BidaskClub cut Echo Global Logistics from a sell rating to a strong sell rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $23.90.



Echo Global Logistics (NASDAQ:ECHO) opened at $23.85 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $28.90. The firm has a market capitalization of $665.60, a P/E ratio of 58.17, a P/E/G ratio of 2.77 and a beta of 1.51.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. The firm had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. equities analysts predict that Echo Global Logistics will post 0.49 EPS for the current year.

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In other Echo Global Logistics news, CFO Kyle Sauers sold 20,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total transaction of $478,400.00. Following the sale, the chief financial officer now owns 65,919 shares in the company, valued at approximately $1,576,782.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total value of $2,821,200.00. Following the sale, the director now owns 24,346 shares in the company, valued at approximately $572,374.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,660 shares of company stock valued at $5,299,371. Company insiders own 8.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of Echo Global Logistics by 77.3% during the second quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock worth $106,000 after acquiring an additional 2,341 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Echo Global Logistics by 1.3% during the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after acquiring an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Echo Global Logistics during the first quarter worth about $121,000. Municipal Employees Retirement System of Michigan increased its position in shares of Echo Global Logistics by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock worth $128,000 after acquiring an additional 260 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Echo Global Logistics by 6.5% during the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock worth $136,000 after acquiring an additional 388 shares during the last quarter. 90.72% of the stock is currently owned by institutional investors.

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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