Echo Global Logistics, Inc. (NASDAQ:ECHO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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 has been the subject of several other reports. BidaskClub lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 target price on shares of Echo Global Logistics in a report on Tuesday, September 12th. ValuEngine lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Macquarie reaffirmed an “outperform” rating and set a $29.00 target price on shares of Echo Global Logistics in a report on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.38.

Echo Global Logistics (NASDAQ ECHO) remained flat at $19.65 on Tuesday. The company had a trading volume of 311,554 shares. The firm’s market cap is $560.69 million. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $28.90. The company’s 50 day moving average is $16.62 and its 200 day moving average is $18.11.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $470.10 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Echo Global Logistics will post $0.59 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of Echo Global Logistics by 77.3% during 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 period. SG Americas Securities LLC boosted its position in shares of Echo Global Logistics by 1.3% during 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 period. Oppenheimer Asset Management Inc. acquired a new position in shares of Echo Global Logistics during the first quarter worth approximately $121,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Echo Global Logistics by 4.2% during 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 period. Finally, Mason Street Advisors LLC boosted its position in shares of Echo Global Logistics by 6.5% during 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 period. 87.50% of the stock is owned by institutional investors.

About Echo Global Logistics

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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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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