Supply Chain Council of European Union | Scceu.org
Supply Chain Risk

Echo Global Logistics (NASDAQ:ECHO) Price Target Raised to $22.00 at UBS Group

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.

(Ad)

A groundbreaking new technology is expected to be in every household in America in 2020. This technology has the potential to make over 266 million smartphones become obsolete forcing nearly every American to switch over to this new “5G Device.”

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.

See Also: The Structure of a Futures Contract

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

10 Best Tech Stocks to Buy After the Market’s Historic Sell-Off

Technology stocks are among the most volatile in the market. The allure of big gains comes with the risk of sharp downturns. When the market is trending upwards, these stocks have a tendency to lead the way. Conversely, when the market is selling off, tech stocks post some of the largest losses. And in the coronavirus crash tech stocks took their usual beating.

But an interesting dynamic is happening. As stocks are trying to stage a comeback, many tech stocks are being left behind. Many of the leading tech stocks trade on the NASDAQ exchange. However, as the Dow Jones Industrial Average (DJIA) and S&P 500 posted gains on March 25, the NASDAQ stayed down.

And that’s an opportunity for investors who know where to look. We’ve put together this presentation to give you ten technology stocks that look to be solid bets no matter which way the market moves. Some of the stocks you’ll see are companies that have a business model that is perfectly suited for today’s social distancing environment.

View the “10 Best Tech Stocks to Buy After the Market’s Historic Sell-Off”.

Related posts

Reserve prices under scarcity conditions improve with a dynamic ORDC, new research finds

scceu

UK brings in the army; Global deaths surpass 15,000

scceu

Eastern Cape schools forced to buy their own Covid protective gear

scceu
`