Barrington Research Increases Echo Global Logistics Price Target to $25.00 (ECHO)
Equities research analysts at Barrington Research hoisted their price target on shares of Echo Global Logistics (NASDAQ:ECHO) from $21.00 to $25.00 in a research note issued to investors on Thursday. Barrington Research’s target price suggests a potential upside of 13.74% from the stock’s previous close.
ECHO has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Echo Global Logistics from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $22.20 price target on the stock. Separately, 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, July 25th. They now have an “outperform” rating on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.46.
In other Echo Global Logistics news, COO David B. Menzel sold 20,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $21.73, for a total value of $434,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Echo Global Logistics (NASDAQ:ECHO) traded down 0.14% during mid-day trading on Thursday, hitting $21.98. The stock had a trading volume of 275,456 shares. Echo Global Logistics has a 52 week low of $15.54 and a 52 week high of $22.34. The stock has a 50-day moving average of $19.81 and a 200-day moving average of $18.56. The company has a market cap of $518.2 million and a price-to-earnings ratio of 37.31.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Thursday, July 24th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 36.1% on a year-over-year basis. On average, analysts predict that Echo Global Logistics will post $0.77 earnings per share 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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