Echo Global Logistics (NASDAQ:ECHO) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on ECHO. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price (up previously from $25.00) on shares of Echo Global Logistics in a report on Friday, December 8th. Cowen restated a “buy” rating and issued a $19.00 target price on shares of Echo Global Logistics in a report on Wednesday, October 4th. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. UBS upped their target price on shares of Echo Global Logistics from $13.00 to $19.00 and gave the stock a “sell” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Echo Global Logistics presently has a consensus rating of “Hold” and an average target price of $24.50.

Shares of Echo Global Logistics (ECHO) traded down $1.60 during midday trading on Thursday, hitting $26.50. 796,238 shares of the stock traded hands, compared to its average volume of 363,677. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $28.50. The firm has a market capitalization of $778.62, a price-to-earnings ratio of 68.05, a P/E/G ratio of 3.24 and a beta of 1.55. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The firm had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. sell-side analysts forecast that Echo Global Logistics will post 0.49 earnings per share for the current fiscal year.

In other Echo Global Logistics news, CFO Kyle Sauers sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $23.92, for a total value of $478,400.00. Following the completion of the sale, the chief financial officer now directly owns 65,919 shares of the company’s stock, valued at approximately $1,576,782.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David B. Menzel sold 30,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the completion of the sale, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at $4,426,905.10. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock valued at $6,035,871 over the last ninety days. 8.10% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of ECHO. Vanguard Group Inc. grew its position in Echo Global Logistics by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 1,426,941 shares of the transportation company’s stock worth $30,465,000 after purchasing an additional 110,145 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Echo Global Logistics by 7.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 163,155 shares of the transportation company’s stock worth $3,484,000 after purchasing an additional 10,726 shares in the last quarter. State Street Corp grew its position in shares of Echo Global Logistics by 1.2% during the 1st quarter. State Street Corp now owns 727,918 shares of the transportation company’s stock valued at $15,540,000 after acquiring an additional 8,351 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Echo Global Logistics by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock valued at $223,000 after acquiring an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Echo Global Logistics by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock valued at $128,000 after acquiring an additional 260 shares during the period. 95.08% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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