Echo Global Logistics Upgraded to Buy by Craig Hallum (ECHO)
Echo Global Logistics (NASDAQ:ECHO) was upgraded by investment analysts at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Friday, AnalystRatings.Net reports. The firm currently has a $23.00 target price on the stock, up from their previous target price of $15.00. Craig Hallum’s price objective points to a potential upside of 16.99% from the company’s current price.
A number of other analysts have also recently weighed in on ECHO. Analysts at FBR Capital Markets raised their price target on shares of Echo Global Logistics from $20.00 to $22.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Echo Global Logistics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $17.30 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Echo Global Logistics currently has an average rating of “Hold” and a consensus price target of $21.61.
In other Echo Global Logistics news, Director Bradley Keywell unloaded 35,000 shares of the company’s stock on the open market in a transaction dated Thursday, April 17th. The shares were sold at an average price of $16.88, for a total transaction of $590,800.00. Following the completion of the sale, the director now directly owns 8,217 shares of the company’s stock, valued at approximately $138,703. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Echo Global Logistics (NASDAQ:ECHO) traded up 8.80% during mid-day trading on Friday, hitting $19.66. 1,028,513 shares of the company’s stock traded hands. Echo Global Logistics has a one year low of $15.54 and a one year high of $22.65. The stock has a 50-day moving average of $17.50 and a 200-day moving average of $19.00. The company has a market cap of $461.9 million and a P/E ratio of 29.62.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.03. The company had revenue of $247.70 million for the quarter, compared to the consensus estimate of $229.69 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Analysts expect that Echo Global Logistics will post $0.69 EPS for the current fiscal year.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
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