Analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post $471.49 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $466.27 million and the highest estimate coming in at $475.00 million. Echo Global Logistics reported sales of $460.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 25th.

According to Zacks, analysts expect that Echo Global Logistics will report full-year sales of $471.49 million for the current year, with estimates ranging from $1.79 billion to $1.80 billion. For the next year, analysts expect that the company will report sales of $1.95 billion per share, with estimates ranging from $1.90 billion to $2.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $470.10 million during the quarter, compared to analysts’ expectations of $470.25 million. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share.

ECHO has been the subject of a number of research analyst reports. BidaskClub downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Macquarie reiterated an “outperform” rating and issued a $29.00 price target on shares of Echo Global Logistics in a report on Monday, July 10th. Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Morgan Stanley downgraded Echo Global Logistics from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $14.00 in a report on Monday, August 7th. Finally, Barrington Research lowered their price target on Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Echo Global Logistics presently has a consensus rating of “Hold” and an average price target of $20.14.

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In related news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this link. 8.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Echo Global Logistics by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock worth $106,000 after buying an additional 2,341 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after buying an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Echo Global Logistics during the first quarter worth approximately $121,000. Mason Street Advisors LLC increased its position in shares of Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock worth $136,000 after buying an additional 388 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Echo Global Logistics by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock worth $128,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Echo Global Logistics (NASDAQ ECHO) opened at 13.95 on Thursday. The stock’s market capitalization is $398.05 million. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $28.90. The firm has a 50-day moving average of $17.08 and a 200 day moving average of $19.72.

Echo Global Logistics declared that its Board of Directors has approved a share buyback program on Monday, May 1st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Echo Global Logistics Company Profile

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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