Echo Global Logistics (ECHO) Upgraded at BidaskClub

BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Echo Global Logistics from a buy rating to a hold rating in a report on Thursday, January 11th. Stifel Nicolaus restated a buy rating and set a $31.00 price objective (up previously from $25.00) on shares of Echo Global Logistics in a report on Friday, December 8th. Morgan Stanley lowered shares of 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 note on Friday, February 23rd. Macquarie lowered shares of Echo Global Logistics from an outperform rating to a neutral rating in a research note on Thursday, December 14th. Finally, Cowen reaffirmed an outperform rating and issued a $34.00 price target (up previously from $23.00) on shares of Echo Global Logistics in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $30.40.

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Shares of NASDAQ ECHO opened at $28.00 on Wednesday. The company has a market cap of $784.70, a P/E ratio of 41.79, a PEG ratio of 1.81 and a beta of 1.44. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.59. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $32.95.

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

In other Echo Global Logistics news, Director Matthew Wagner Ferguson sold 10,389 shares of Echo Global Logistics stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 $524,743.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David B. Menzel sold 50,000 shares of Echo Global Logistics stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $28.64, for a total transaction of $1,432,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,389 shares of company stock worth $3,138,901. Insiders own 8.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in ECHO. We Are One Seven LLC bought a new stake in shares of Echo Global Logistics in the fourth quarter worth $171,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Echo Global Logistics by 59.4% in 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 in the last quarter. SG Americas Securities LLC lifted its position in shares of Echo Global Logistics by 61.5% in 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 in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Echo Global Logistics in the fourth quarter worth $222,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Echo Global Logistics in the fourth quarter worth $238,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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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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