Echo Global Logistics (NASDAQ: ECHO) has recently received a number of price target changes and ratings updates:

  • 8/7/2017 – Echo Global Logistics was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $14.00 price target on the stock, down previously from $26.00.
  • 8/2/2017 – Echo Global Logistics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois. “
  • 7/31/2017 – Echo Global Logistics was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/31/2017 – Echo Global Logistics was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating. They now have a $14.00 price target on the stock, down previously from $23.00.
  • 7/31/2017 – Echo Global Logistics had its price target lowered by analysts at Barrington Research from $28.00 to $18.00. They now have an “outperform” rating on the stock.
  • 7/28/2017 – Echo Global Logistics was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/28/2017 – Echo Global Logistics had its “market perform” rating reaffirmed by analysts at William Blair.
  • 7/28/2017 – Echo Global Logistics was downgraded by analysts at UBS AG from a “neutral” rating to a “sell” rating. They now have a $13.00 price target on the stock, down previously from $22.00. They wrote, “Better execution in the market appears necessary but it is unclear whether the catalyst is people, new technology or perhaps entering a period of less intense competition,” Wadewitz added.Finally, Echo’s stock is trading at a P/E multiple of around 33x on the analyst’s one year forward EPS estimate. And multiple may be unjustified amid a “more muted revenue growth outlook” and only expectations for a “modest”
  • 7/24/2017 – Echo Global Logistics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/19/2017 – Echo Global Logistics had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
  • 7/10/2017 – Echo Global Logistics had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $29.00 price target on the stock.
  • 6/28/2017 – Echo Global Logistics was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois. “

Echo Global Logistics, Inc. (ECHO) traded up 1.022% during mid-day trading on Tuesday, hitting $14.825. 308,093 shares of the stock traded hands. The stock’s market capitalization is $423.02 million. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $28.90. The company has a 50 day moving average price of $18.78 and a 200-day moving average price of $20.49.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. The company had revenue of $470.10 million for the quarter, compared to analyst estimates of $470.25 million. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. Echo Global Logistics’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts anticipate that Echo Global Logistics, Inc. will post $0.59 earnings per share for the current fiscal year.

In related news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the completion of the transaction, the chief operating officer now directly owns 163,141 shares in the company, valued at approximately $3,177,986.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.10% of the stock is owned by corporate insiders.

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

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