Echo Global Logistics (NASDAQ:ECHO) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the company. UBS Group set a $23.00 target price on Echo Global Logistics and gave the stock a hold rating in a research report on Friday, July 26th. Credit Suisse Group upped their target price on Echo Global Logistics from $21.00 to $22.00 and gave the stock a neutral rating in a research report on Thursday, October 24th. Barrington Research reaffirmed a buy rating and set a $27.00 target price on shares of Echo Global Logistics in a research report on Monday, October 28th. Cowen decreased their target price on Echo Global Logistics from $30.00 to $29.00 and set an outperform rating for the company in a research report on Thursday, October 24th. Finally, ValuEngine raised Echo Global Logistics from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $25.40.

Echo Global Logistics stock traded down $0.22 during trading hours on Monday, reaching $20.08. 95,430 shares of the company were exchanged, compared to its average volume of 235,543. The firm has a market cap of $563.09 million, a price-to-earnings ratio of 12.40, a PEG ratio of 1.00 and a beta of 1.91. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $21.87 and a 200 day moving average of $21.01. Echo Global Logistics has a 12 month low of $18.00 and a 12 month high of $25.95.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $561.44 million during the quarter, compared to analysts’ expectations of $548.10 million. Echo Global Logistics had a return on equity of 9.70% and a net margin of 0.91%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, research analysts forecast that Echo Global Logistics will post 1.18 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP bought a new stake in shares of Echo Global Logistics in the third quarter valued at approximately $1,550,000. California Public Employees Retirement System boosted its position in shares of Echo Global Logistics by 19.9% in the third quarter. California Public Employees Retirement System now owns 47,349 shares of the transportation company’s stock valued at $1,072,000 after acquiring an additional 7,860 shares during the period. North Star Asset Management Inc. boosted its position in shares of Echo Global Logistics by 0.6% in the third quarter. North Star Asset Management Inc. now owns 475,831 shares of the transportation company’s stock valued at $10,778,000 after acquiring an additional 2,635 shares during the period. New York State Teachers Retirement System boosted its position in shares of Echo Global Logistics by 17.3% in the third quarter. New York State Teachers Retirement System now owns 16,964 shares of the transportation company’s stock valued at $384,000 after acquiring an additional 2,500 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Echo Global Logistics by 4.5% in the third quarter. Rhumbline Advisers now owns 89,469 shares of the transportation company’s stock valued at $2,026,000 after acquiring an additional 3,825 shares during the period. 93.96% of the stock is owned by institutional investors.

Echo Global Logistics Company Profile

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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