Echo Global Logistics (ECHO) Downgraded by Zacks Investment Research to Hold

Echo Global Logistics (NASDAQ:ECHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Other analysts have also recently issued research reports about the stock. Stephens reiterated a “buy” rating and set a $34.00 target price on shares of Echo Global Logistics in a research report on Wednesday. Morgan Stanley upped their target price on shares of Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Cowen reiterated a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a research report on Wednesday, October 4th. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Barrington Research reiterated an “outperform” rating and set a $26.00 target price (up previously from $18.00) on shares of Echo Global Logistics in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.90.

Echo Global Logistics (NASDAQ:ECHO) traded up $0.65 during mid-day trading on Thursday, reaching $28.90. 329,543 shares of the company traded hands, compared to its average volume of 277,480. The company has a market cap of $795.37, a PE ratio of -222.31, a PEG ratio of 2.08 and a beta of 1.55. Echo Global Logistics has a 1 year low of $13.00 and a 1 year high of $29.00. 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 (NASDAQ:ECHO) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $509.50 million during the quarter, compared to analysts’ expectations of $473.44 million. Echo Global Logistics had a net margin of 0.47% and a return on equity of 2.78%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. equities research analysts anticipate that Echo Global Logistics will post 0.49 earnings per share for the current year.

In related news, COO David B. Menzel sold 30,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the sale, the chief operating officer now owns 180,322 shares in the company, valued at approximately $4,426,905.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Samuel K. Skinner sold 120,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total transaction of $2,821,200.00. Following the completion of the sale, the director now owns 24,346 shares of the company’s stock, valued at approximately $572,374.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,660 shares of company stock valued at $6,035,871. 8.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Echo Global Logistics by 9.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,984,863 shares of the transportation company’s stock valued at $37,414,000 after buying an additional 177,818 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Echo Global Logistics by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock valued at $29,299,000 after buying an additional 45,347 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Echo Global Logistics by 25.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after buying an additional 279,142 shares in the last quarter. Granahan Investment Management Inc. MA increased its position in shares of Echo Global Logistics by 1,669.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock valued at $15,851,000 after buying an additional 793,366 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Echo Global Logistics by 24.1% in 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 buying an additional 152,088 shares in the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

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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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