Echo Global Logistics Reaches New 12-Month High at $22.30 (ECHO)
Echo Global Logistics (NASDAQ:ECHO)’s share price hit a new 52-week high during mid-day trading on Friday , Analyst Ratings News reports. The stock traded as high as $22.30 and last traded at $22.14, with a volume of 30,354 shares trading hands. The stock had previously closed at $22.00.
Several analysts have recently commented on the stock. Analysts at Barrington Research raised their price target on shares of Echo Global Logistics from $21.00 to $25.00 in a research note on Thursday, July 31st. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.46.
The stock has a 50-day moving average of $20.24 and a 200-day moving average of $18.58. The company has a market cap of $527.8 million and a P/E ratio of 37.29.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Thursday, July 24th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter 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.
In other Echo Global Logistics news, COO David B. Menzel sold 20,000 shares of the stock on the open market in a transaction that occurred on Wednesday, July 30th. The shares were 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 SEC, which can be accessed through this link.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
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