Echo Global Logistics Rating Increased to Outperform at Zacks (ECHO)
Echo Global Logistics (NASDAQ:ECHO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $22.20 target price on the stock. Zacks‘s price target suggests a potential upside of 1.49% from the stock’s previous close.
In other Echo Global Logistics news, Director Bradley A. Keywell sold 35,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $19.90, for a total transaction of $696,500.00. The sale was disclosed in a filing with the SEC, which is available at this link.
ECHO has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets raised their price target on shares of Echo Global Logistics from $22.00 to $28.00 in a research note on Friday. They now have an “outperform” rating on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Echo Global Logistics in a research note on Thursday, June 12th. They now have a $20.00 price target on the stock, up previously from $19.00. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Echo Global Logistics currently has an average rating of “Buy” and a consensus price target of $22.78.
Echo Global Logistics (NASDAQ:ECHO) traded up 7.71% on Friday, hitting $21.875. 639,023 shares of the company’s stock traded hands. Echo Global Logistics has a 52-week low of $15.54 and a 52-week high of $22.65. The stock’s 50-day moving average is $19.39 and its 200-day moving average is $18.52. The company has a market cap of $513.8 million and a P/E ratio of 35.02.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.04. The company had revenue of $305.10 million for the quarter, compared to the consensus estimate of $276.73 million. During the same quarter last year, the company posted $0.17 earnings per share. Echo Global Logistics’s revenue was up 36.1% compared to the same quarter last year. Analysts expect that Echo Global Logistics will post $0.73 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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