Echo Global Logistics (ECHO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a report issued on Friday. The brokerage currently has $32.00 target price on the transportation company’s stock.

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 have also commented on ECHO. Cowen upped their price target on shares of Echo Global Logistics from $19.00 to $23.00 and gave the stock an outperform rating in a research report on Thursday, October 26th. UBS Group upped 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 report on Thursday, October 26th. Stifel Nicolaus upped their price target on shares of Echo Global Logistics from $21.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Morgan Stanley upped their price target on shares of Echo Global Logistics from $14.00 to $15.00 and gave the stock an equal weight rating in a research report on Thursday, October 26th. Finally, Credit Suisse Group upped their price target on shares of Echo Global Logistics from $17.00 to $20.00 and gave the stock a neutral rating in a research report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $30.40.

Echo Global Logistics (ECHO) opened at $27.85 on Friday. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $32.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.40 and a current ratio of 2.09. The company has a market cap of $777.23, a P/E ratio of 60.54, a P/E/G ratio of 1.80 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.19 by $0.14. Echo Global Logistics had a net margin of 0.65% and a return on equity of 5.22%. The firm had revenue of $547.70 million during the quarter, compared to analyst estimates of $484.47 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. Echo Global Logistics’s revenue for the quarter was up 34.6% compared to the same quarter last year. equities research analysts expect that Echo Global Logistics will post 0.88 EPS for the current fiscal year.

In other news, COO David B. Menzel sold 50,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $28.64, for a total value of $1,432,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Wagner Ferguson sold 10,389 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $29.18, for a total transaction of $303,151.02. Following the completion of the sale, the director now directly owns 17,983 shares of the company’s stock, valued at approximately $524,743.94. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Echo Global Logistics by 1.6% in the fourth quarter. BlackRock Inc. now owns 3,529,152 shares of the transportation company’s stock worth $98,816,000 after acquiring an additional 55,081 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Echo Global Logistics by 9.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,984,863 shares of the transportation company’s stock valued at $37,414,000 after purchasing an additional 177,818 shares during the period. Vanguard Group Inc. boosted its stake in shares of Echo Global Logistics by 3.2% in the second 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 during the period. Granahan Investment Management Inc. MA boosted its stake in shares of Echo Global Logistics by 1,669.3% in the third quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock valued at $15,851,000 after purchasing an additional 793,366 shares during the period. Finally, Park West Asset Management LLC purchased a new position in shares of Echo Global Logistics in the fourth quarter valued at $22,802,000. 99.17% of the stock is owned by institutional investors.

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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.

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