Echo Global Logistics (ECHO) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Echo Global Logistics (NASDAQ:ECHO) in a report published on Friday morning. Stifel Nicolaus currently has a $31.00 price objective on the transportation company’s stock, up from their previous price objective of $25.00.

Several other research analysts have also recently weighed in on ECHO. Cowen reiterated a buy rating and set a $19.00 price target on shares of Echo Global Logistics in a research note on Friday, September 1st. ValuEngine cut shares of Echo Global Logistics from a hold rating to a sell rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Echo Global Logistics from a sell rating to a hold rating in a research note on Monday, October 2nd. J P Morgan Chase & Co lifted their price target on shares of Echo Global Logistics from $19.00 to $25.00 and gave the stock an overweight rating in a research note on Thursday, October 12th. Finally, UBS lifted their price target on shares of Echo Global Logistics from $13.00 to $19.00 and gave the stock a sell rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $24.50.

Shares of Echo Global Logistics (NASDAQ:ECHO) traded up $0.25 during trading on Friday, hitting $27.45. 289,994 shares of the stock traded hands, compared to its average volume of 592,042. The stock has a market cap of $766.06, a PE ratio of 66.34, a PEG ratio of 3.16 and a beta of 1.55. Echo Global Logistics has a 1-year low of $13.00 and a 1-year high of $28.90. 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 quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The business had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $473.44 million. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. equities research analysts expect that Echo Global Logistics will post 0.49 EPS for the current fiscal year.

In related news, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction on Monday, November 20th. The shares were sold at an average price of $24.55, for a total transaction of $736,500.00. Following the transaction, 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 can be accessed through this link. Also, Director Samuel K. Skinner sold 120,000 shares of Echo Global Logistics 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 transaction, 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. In the last 90 days, insiders have sold 253,660 shares of company stock worth $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 lifted its stake in shares of Echo Global Logistics by 9.8% during 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 holdings in 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 acquiring an additional 45,347 shares during the last quarter. Franklin Resources Inc. increased its holdings in 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 acquiring an additional 279,142 shares during the last quarter. Granahan Investment Management Inc. MA increased its holdings in 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 acquiring an additional 793,366 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in 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 acquiring an additional 152,088 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

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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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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