Echo Global Logistics, Inc. (ECHO) Stock Rating Upgraded by Zacks Investment Research

Echo Global Logistics, Inc. (NASDAQ:ECHO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, November 1st. The firm currently has a $27.00 target price on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.21% from the company’s previous close.

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. “

Several other equities analysts also recently commented on the company. William Blair restated a “market perform” rating on shares of Echo Global Logistics in a research report on Friday, July 28th. UBS AG downgraded Echo Global Logistics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $22.00 to $13.00 in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating on shares of Echo Global Logistics in a research note on Wednesday, July 19th. Morgan Stanley cut Echo Global Logistics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $26.00 to $14.00 in a research note on Monday, August 7th. 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 assigned a hold rating and six have assigned a buy rating to the company. Echo Global Logistics has a consensus rating of “Hold” and a consensus price target of $23.90.

Shares of Echo Global Logistics (NASDAQ:ECHO) opened at $23.85 on Wednesday. The stock has a market capitalization of $665.60, a P/E ratio of 58.17, a price-to-earnings-growth ratio of 2.77 and a beta of 1.51. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. Echo Global Logistics has a fifty-two week low of $13.00 and a fifty-two week high of $28.90.

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

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In other news, Director Samuel K. Skinner sold 120,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 24,346 shares of the company’s stock, valued at $572,374.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle Sauers sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total value of $478,400.00. Following the sale, the chief financial officer now directly owns 65,919 shares in the company, valued at approximately $1,576,782.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,660 shares of company stock worth $5,299,371. Company insiders own 8.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Echo Global Logistics by 20.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after purchasing an additional 309,610 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Echo Global Logistics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock valued at $29,299,000 after purchasing an additional 45,347 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Echo Global Logistics by 25.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after purchasing an additional 279,142 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of Echo Global Logistics by 24.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 784,397 shares of the transportation company’s stock valued at $14,786,000 after purchasing an additional 152,088 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Echo Global Logistics by 25.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 776,218 shares of the transportation company’s stock valued at $15,447,000 after purchasing an additional 156,516 shares in the last quarter. Hedge funds and other institutional investors own 90.72% 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.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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