Echo Global Logistics Lowered to “Neutral” at Zacks (ECHO)
Echo Global Logistics (NASDAQ:ECHO) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $26.80 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.26% from the stock’s previous close.
In other Echo Global Logistics news, Director Bradley A. Keywell unloaded 35,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 21st. The shares were sold at an average price of $24.90, for a total transaction of $871,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Echo Global Logistics (NASDAQ:ECHO) traded up 0.55% on Wednesday, hitting $25.60. 58,920 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 $25.60. The stock has a 50-day moving average of $22.06 and a 200-day moving average of $18.96. The company has a market cap of $606.7 million and a price-to-earnings ratio of 43.15.
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. Analysts expect that Echo Global Logistics will post $0.77 EPS for the current fiscal year.
ECHO has been the subject of a number of other recent research reports. 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 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.11.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
To view Zacks’ full report, visit Zacks’ official website.
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