Loop Capital initiated coverage on shares of Echo Global Logistics (NASDAQ:ECHO) in a research note released on Wednesday, Marketbeat.com reports. The firm issued a hold rating and a $30.00 price objective on the transportation company’s stock.
A number of other equities analysts also recently issued reports on ECHO. Stifel Nicolaus started coverage on shares of Echo Global Logistics in a report on Tuesday, June 19th. They set a buy rating and a $34.00 price objective on the stock. BidaskClub downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a report on Wednesday, June 27th. Barrington Research reaffirmed a buy rating on shares of Echo Global Logistics in a report on Friday, June 29th. ValuEngine downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a report on Monday, July 2nd. Finally, Cowen lifted their price objective on shares of Echo Global Logistics from $35.00 to $40.00 and gave the stock an outperform rating in a report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $34.40.
ECHO stock traded down $0.62 during midday trading on Wednesday, reaching $25.99. 6,163 shares of the company’s stock traded hands, compared to its average volume of 401,072. The firm has a market capitalization of $883.56 million, a PE ratio of 39.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.57. Echo Global Logistics has a 52 week low of $18.70 and a 52 week high of $36.75.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $635.00 million for the quarter, compared to the consensus estimate of $611.26 million. Echo Global Logistics had a net margin of 1.24% and a return on equity of 9.43%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities analysts predict that Echo Global Logistics will post 1.42 earnings per share for the current fiscal year.
In related news, CEO Douglas R. Waggoner sold 40,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $31.46, for a total value of $1,258,400.00. Following the transaction, the chief executive officer now directly owns 346,332 shares of the company’s stock, valued at approximately $10,895,604.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David B. Menzel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $34.13, for a total transaction of $682,600.00. Following the completion of the transaction, the chief operating officer now directly owns 147,334 shares in the company, valued at $5,028,509.42. The disclosure for this sale can be found here. Insiders sold a total of 71,000 shares of company stock worth $2,307,090 over the last three months. 3.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECHO. Summit Trail Advisors LLC lifted its holdings in Echo Global Logistics by 2,251.9% during the first quarter. Summit Trail Advisors LLC now owns 720,147 shares of the transportation company’s stock valued at $720,000 after purchasing an additional 689,527 shares during the last quarter. Redwood Investments LLC purchased a new stake in Echo Global Logistics during the second quarter valued at about $16,089,000. BlackRock Inc. lifted its holdings in Echo Global Logistics by 13.0% during the second quarter. BlackRock Inc. now owns 4,048,029 shares of the transportation company’s stock valued at $118,405,000 after purchasing an additional 464,917 shares during the last quarter. Millennium Management LLC lifted its holdings in Echo Global Logistics by 876.8% during the first quarter. Millennium Management LLC now owns 345,097 shares of the transportation company’s stock valued at $9,525,000 after purchasing an additional 309,769 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Echo Global Logistics during the second quarter valued at about $6,812,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.
About Echo Global Logistics
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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