BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a sell rating to a hold rating in a report released on Wednesday, December 25th, BidAskClub reports.
ECHO has been the topic of several other reports. ValuEngine raised Echo Global Logistics from a sell rating to a hold rating in a report on Wednesday, October 2nd. Cowen dropped their price target on shares of Echo Global Logistics from $30.00 to $29.00 and set an outperform rating on the stock in a research note on Thursday, October 24th. Zacks Investment Research upgraded shares of Echo Global Logistics from a sell rating to a hold rating in a research report on Monday, November 18th. Barrington Research reiterated a buy rating and issued a $27.00 target price on shares of Echo Global Logistics in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. downgraded shares of Echo Global Logistics from an overweight rating to a neutral rating and upped their price target for the stock from $22.00 to $26.00 in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $25.33.
Shares of ECHO stock opened at $20.40 on Wednesday. The stock has a market cap of $556.92 million, a P/E ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 1.89. Echo Global Logistics has a twelve month low of $18.00 and a twelve month high of $25.95. The stock has a 50 day moving average of $19.85 and a 200 day moving average of $20.68. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.49.
Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Echo Global Logistics had a net margin of 0.91% and a return on equity of 9.70%. The firm had revenue of $561.44 million during the quarter, compared to analysts’ expectations of $548.10 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was down 12.9% compared to the same quarter last year. On average, research analysts predict that Echo Global Logistics will post 1.18 earnings per share for the current fiscal year.
In other Echo Global Logistics news, COO David B. Menzel sold 20,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.89, for a total value of $417,800.00. Following the completion of the sale, the chief operating officer now owns 145,722 shares in the company, valued at approximately $3,044,132.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP acquired a new position in shares of Echo Global Logistics during the 1st quarter valued at about $208,000. Swiss National Bank raised its holdings in Echo Global Logistics by 4.4% in the 2nd quarter. Swiss National Bank now owns 51,700 shares of the transportation company’s stock valued at $1,079,000 after buying an additional 2,200 shares during the period. Stone Ridge Asset Management LLC lifted its position in Echo Global Logistics by 102.1% in the second quarter. Stone Ridge Asset Management LLC now owns 21,772 shares of the transportation company’s stock valued at $454,000 after buying an additional 11,000 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Echo Global Logistics during the second quarter worth about $797,000. Finally, Prudential Financial Inc. boosted its stake in Echo Global Logistics by 2.2% during the second quarter. Prudential Financial Inc. now owns 50,144 shares of the transportation company’s stock worth $1,047,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 95.27% 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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