Echo Global Logistics (NASDAQ:ECHO) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a strong sell rating to a sell rating in a research note published on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Stephens cut shares of Echo Global Logistics from an overweight rating to an equal weight rating and set a $26.00 price objective on the stock. in a research note on Monday, July 1st. Cowen reissued an outperform rating and issued a $30.00 price objective (down from $33.00) on shares of Echo Global Logistics in a research note on Thursday, July 25th. BidaskClub raised shares of Echo Global Logistics from a sell rating to a hold rating in a research note on Saturday, June 29th. Loop Capital cut shares of Echo Global Logistics from a buy rating to a hold rating and lowered their price objective for the company from $30.00 to $22.00 in a research note on Tuesday, July 2nd. Finally, Barrington Research lowered their price objective on shares of Echo Global Logistics from $29.00 to $25.00 and set an outperform rating on the stock in a research note on Friday, July 26th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Echo Global Logistics has an average rating of Hold and a consensus target price of $25.44.

NASDAQ ECHO traded up $0.40 during trading hours on Thursday, reaching $20.89. The company’s stock had a trading volume of 317,013 shares, compared to its average volume of 205,694. The company has a market cap of $574.57 million, a PE ratio of 12.90, a PEG ratio of 0.87 and a beta of 2.00. Echo Global Logistics has a fifty-two week low of $18.00 and a fifty-two week high of $36.75. The business’s 50-day moving average price is $19.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The business had revenue of $553.78 million during the quarter, compared to analyst estimates of $572.60 million. Echo Global Logistics had a net margin of 1.07% and a return on equity of 11.03%. Echo Global Logistics’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, equities research analysts forecast that Echo Global Logistics will post 1.38 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in ECHO. Lazard Asset Management LLC boosted its stake in shares of Echo Global Logistics by 45.8% during the 1st quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock worth $9,349,000 after purchasing an additional 118,550 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Echo Global Logistics by 11.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,097,357 shares of the transportation company’s stock worth $27,193,000 after purchasing an additional 110,365 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Echo Global Logistics during the 1st quarter worth about $1,604,000. Geode Capital Management LLC boosted its stake in shares of Echo Global Logistics by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 314,562 shares of the transportation company’s stock worth $6,395,000 after purchasing an additional 40,677 shares during the last quarter. Finally, Globeflex Capital L P boosted its stake in shares of Echo Global Logistics by 216.8% during the 1st quarter. Globeflex Capital L P now owns 57,891 shares of the transportation company’s stock worth $1,435,000 after purchasing an additional 39,620 shares during the last quarter. 97.60% of the stock is currently owned by institutional investors.

About Echo Global Logistics

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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