Echo Global Logistics (NASDAQ:ECHO) had its target price upped by investment analysts at UBS Group from $17.00 to $22.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price would suggest a potential downside of 5.13% from the company’s previous close.
ECHO has been the topic of several other reports. SunTrust Banks reduced their target price on Echo Global Logistics from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Loop Capital raised Echo Global Logistics from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.00 to $22.00 in a research note on Tuesday, May 19th. Stephens raised Echo Global Logistics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $25.00 in a research note on Thursday, May 21st. Morgan Stanley reduced their target price on Echo Global Logistics from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, April 27th. Finally, Barrington Research reduced their target price on Echo Global Logistics from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $21.60.
NASDAQ ECHO traded up $1.34 during trading hours on Friday, hitting $23.19. The company had a trading volume of 2,847 shares, compared to its average volume of 255,278. The firm has a market capitalization of $581.00 million, a price-to-earnings ratio of 70.48, a PEG ratio of 2.87 and a beta of 1.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50 day simple moving average of $17.70 and a 200 day simple moving average of $19.03. Echo Global Logistics has a 52 week low of $14.17 and a 52 week high of $24.50.
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Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm had revenue of $551.00 million during the quarter, compared to the consensus estimate of $550.89 million. Echo Global Logistics had a return on equity of 6.57% and a net margin of 0.38%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. On average, research analysts forecast that Echo Global Logistics will post 0.43 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new stake in shares of Echo Global Logistics during the first quarter worth about $208,000. New York State Teachers Retirement System lifted its stake in shares of Echo Global Logistics by 5.3% in the 4th quarter. New York State Teachers Retirement System now owns 17,864 shares of the transportation company’s stock valued at $370,000 after purchasing an additional 900 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Echo Global Logistics by 12.2% in the 4th quarter. California Public Employees Retirement System now owns 53,149 shares of the transportation company’s stock valued at $1,100,000 after purchasing an additional 5,800 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Echo Global Logistics in the fourth quarter worth approximately $119,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Echo Global Logistics by 12.2% in the fourth quarter. Victory Capital Management Inc. now owns 90,543 shares of the transportation company’s stock worth $1,755,000 after buying an additional 9,863 shares during the period. Institutional investors own 97.97% 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.
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