FBR Capital Markets Downgrades Echo Global Logistics to Market Perform (ECHO)
Echo Global Logistics (NASDAQ:ECHO) was downgraded by research analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Friday, TheFlyOnTheWall.com reports.
Shares of Echo Global Logistics (NASDAQ:ECHO) traded down 9.00% during mid-day trading on Friday, hitting $19.11. The stock had a trading volume of 1,018,452 shares. Echo Global Logistics has a 52 week low of $15.50 and a 52 week high of $22.65. The stock’s 50-day moving average is $21.72 and its 200-day moving average is $19.91. The company has a market cap of $448.9 million and a P/E ratio of 38.11.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.03. The company had revenue of $234.80 million for the quarter, compared to the consensus estimate of $238.97 million. During the same quarter last year, the company posted $0.17 earnings per share. Echo Global Logistics’s revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that Echo Global Logistics will post $0.77 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ECHO. Analysts at Barrington Research raised their price target on shares of Echo Global Logistics from $23.00 to $26.00 in a research note to investors on Friday, August 2nd. Separately, analysts at Stifel Nicolaus downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, July 30th. They now have a $21.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of Echo Global Logistics from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $21.80 price target on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.70.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
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