BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a report released on Friday, March 16th.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Echo Global Logistics from a buy rating to a hold rating in a research note on Thursday, January 11th. Stifel Nicolaus restated a buy rating and set a $31.00 price target (up from $25.00) on shares of Echo Global Logistics in a research report on Friday, December 8th. Morgan Stanley lowered Echo Global Logistics from an equal weight rating to an underweight rating and set a $15.00 price target on the stock. in a research report on Friday, February 23rd. Macquarie lowered Echo Global Logistics from an outperform rating to a neutral rating in a research report on Thursday, December 14th. Finally, Cowen reiterated an outperform rating and issued a $34.00 price objective (up from $23.00) on shares of Echo Global Logistics in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Echo Global Logistics presently has an average rating of Buy and a consensus target price of $30.40.
Shares of NASDAQ ECHO traded down $1.05 during trading hours on Friday, hitting $28.00. 302,338 shares of the company’s stock were exchanged, compared to its average volume of 392,195. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $814.11, a PE ratio of 42.42, a P/E/G ratio of 1.88 and a beta of 1.44. Echo Global Logistics has a 1-year low of $13.00 and a 1-year high of $32.95.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The firm had revenue of $547.70 million during the quarter, compared to analysts’ expectations of $484.47 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. equities research analysts forecast that Echo Global Logistics will post 0.88 EPS for the current fiscal year.
In other news, CEO Douglas R. Waggoner sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $28.12, for a total value of $703,000.00. Following the completion of the transaction, the chief executive officer now owns 328,600 shares in the company, valued at approximately $9,240,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Wagner Ferguson sold 10,389 shares of Echo Global Logistics stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $29.18, for a total value of $303,151.02. Following the transaction, the director now owns 17,983 shares of the company’s stock, valued at approximately $524,743.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,389 shares of company stock valued at $3,138,901. Corporate insiders own 8.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp grew its holdings in Echo Global Logistics by 13.3% during the third quarter. Stifel Financial Corp now owns 26,637 shares of the transportation company’s stock worth $508,000 after purchasing an additional 3,128 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Echo Global Logistics by 59.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock worth $194,000 after purchasing an additional 3,830 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Echo Global Logistics by 15.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 29,695 shares of the transportation company’s stock worth $560,000 after purchasing an additional 3,929 shares during the period. SG Americas Securities LLC grew its holdings in Echo Global Logistics by 61.5% during the third quarter. SG Americas Securities LLC now owns 11,133 shares of the transportation company’s stock worth $210,000 after purchasing an additional 4,239 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Echo Global Logistics by 67.4% during the third quarter. BNP Paribas Arbitrage SA now owns 13,555 shares of the transportation company’s stock worth $256,000 after purchasing an additional 5,456 shares during the period. Institutional investors and hedge funds own 99.04% 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.
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