Echo Global Logistics, Inc. (NASDAQ:ECHO) Receives $31.00 Average Target Price from Analysts

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have received a consensus rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.00.

ECHO has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Echo Global Logistics from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 4th. Zacks Investment Research raised shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, April 7th.

NASDAQ ECHO traded down $0.69 on Tuesday, reaching $32.74. The company’s stock had a trading volume of 136,626 shares, compared to its average volume of 189,904. The stock has a market capitalization of $872.06 million, a price-to-earnings ratio of 30.04, a PEG ratio of 1.10 and a beta of 1.16. The company’s 50-day moving average price is $33.37. Echo Global Logistics has a 52 week low of $19.69 and a 52 week high of $37.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.30 and a current ratio of 1.30.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, April 28th. The transportation company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.28. The business had revenue of $800.80 million for the quarter, compared to analysts’ expectations of $722.47 million. Echo Global Logistics had a net margin of 1.05% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, equities analysts forecast that Echo Global Logistics will post 1.77 EPS for the current year.

In related news, Director Matthew Wagner Ferguson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $33.95, for a total value of $339,500.00. Following the transaction, the director now directly owns 10,779 shares in the company, valued at $365,947.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Samuel K. Skinner sold 8,389 shares of the stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $31.22, for a total transaction of $261,904.58. Following the completion of the transaction, the director now owns 48,531 shares in the company, valued at $1,515,137.82. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ECHO. Captrust Financial Advisors raised its holdings in Echo Global Logistics by 3,557.1% in the first quarter. Captrust Financial Advisors now owns 2,048 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,992 shares during the period. Trexquant Investment LP acquired a new stake in Echo Global Logistics in the first quarter worth $202,000. First Trust Advisors LP acquired a new stake in Echo Global Logistics in the fourth quarter worth $206,000. Dynamic Technology Lab Private Ltd acquired a new stake in Echo Global Logistics in the first quarter worth $207,000. Finally, Everence Capital Management Inc. acquired a new stake in Echo Global Logistics in the first quarter worth $210,000. Institutional investors own 92.94% of the company’s stock.

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.

Recommended Story: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.