Echo Global Logistics (NASDAQ:ECHO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a buy rating to a hold rating in a research report report published on Thursday, January 11th.

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 analysts also recently weighed in on the company. Morgan Stanley upped their price target on Echo Global Logistics from $14.00 to $15.00 and gave the stock an equal weight rating in a research note on Thursday, October 26th. Cowen increased their target price on Echo Global Logistics from $19.00 to $23.00 and gave the company an outperform rating in a research note on Thursday, October 26th. Stifel Nicolaus reiterated a buy rating and set a $31.00 target price (up from $25.00) on shares of Echo Global Logistics in a research note on Friday, December 8th. Barrington Research reiterated an outperform rating and set a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. Finally, Macquarie downgraded Echo Global Logistics from an outperform rating to a neutral rating in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $24.90.

Echo Global Logistics (NASDAQ:ECHO) traded up $0.25 during trading on Thursday, hitting $29.10. The company had a trading volume of 415,460 shares, compared to its average volume of 282,325. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $802.34, a P/E ratio of -242.50, a P/E/G ratio of 2.30 and a beta of 1.55. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $29.70.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $509.50 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. research analysts predict that Echo Global Logistics will post 0.49 earnings per share for the current fiscal year.

In other news, COO David B. Menzel sold 30,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the transaction, the chief operating officer now directly owns 180,322 shares in the company, valued at approximately $4,426,905.10. The transaction was disclosed in a document filed with the SEC, which is accessible 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 completion of the transaction, the director now owns 24,346 shares in the company, valued at $572,374.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,660 shares of company stock worth $6,035,871. Company insiders own 8.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ECHO. Schwab Charles Investment Management Inc. raised its holdings in Echo Global Logistics by 33.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock worth $4,335,000 after purchasing an additional 54,658 shares during the period. Rhumbline Advisers raised its holdings in Echo Global Logistics by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 54,120 shares of the transportation company’s stock worth $1,077,000 after purchasing an additional 1,007 shares during the period. SG Americas Securities LLC raised its holdings in Echo Global Logistics by 22.5% in the 2nd quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,266 shares during the period. Legal & General Group Plc raised its holdings in Echo Global Logistics by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 50,459 shares of the transportation company’s stock worth $1,003,000 after purchasing an additional 4,763 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Echo Global Logistics by 63.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock worth $161,000 after purchasing an additional 3,139 shares during the period. 93.43% of the stock is currently owned by institutional investors.

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About Echo Global Logistics

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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