Echo Global Logistics, Inc. (ECHO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have received a consensus rating of “Hold” from the thirteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $23.25.

A number of research analysts recently issued reports on the stock. Credit Suisse Group boosted their target price on shares of Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cowen reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Echo Global Logistics in a report on Wednesday, October 4th. Macquarie cut shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Echo Global Logistics in a report on Tuesday, September 12th.

In other news, Director Samuel K. Skinner sold 120,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total transaction of $2,821,200.00. Following the completion of the sale, the director now owns 24,346 shares of the company’s stock, valued at $572,374.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David B. Menzel sold 57,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.91, for a total transaction of $1,374,825.00. Following the sale, the chief operating officer now directly owns 187,822 shares of the company’s stock, valued at approximately $4,490,824.02. The disclosure for this sale can be found here. Insiders sold 253,660 shares of company stock valued at $6,035,871 in the last ninety days. 8.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its stake in Echo Global Logistics by 100.6% during the 2nd quarter. Lazard Asset Management LLC now owns 499,146 shares of the transportation company’s stock valued at $9,933,000 after acquiring an additional 250,270 shares in the last quarter. Isthmus Partners LLC grew its stake in Echo Global Logistics by 33.0% during the 2nd quarter. Isthmus Partners LLC now owns 36,433 shares of the transportation company’s stock valued at $725,000 after acquiring an additional 9,046 shares in the last quarter. Vanguard Group Inc. grew its stake in Echo Global Logistics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock valued at $29,299,000 after acquiring an additional 45,347 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Echo Global Logistics by 33.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock valued at $4,335,000 after acquiring an additional 54,658 shares in the last quarter. Finally, Pitcairn Co. grew its stake in Echo Global Logistics by 60.4% during the 3rd quarter. Pitcairn Co. now owns 19,986 shares of the transportation company’s stock valued at $377,000 after acquiring an additional 7,527 shares in the last quarter. 94.92% of the stock is owned by institutional investors.

Echo Global Logistics (NASDAQ:ECHO) opened at $27.90 on Friday. The stock has a market cap of $782.81, a price-to-earnings ratio of -232.50, a P/E/G ratio of 2.11 and a beta of 1.55. Echo Global Logistics has a 1 year low of $13.00 and a 1 year high of $29.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $509.50 million during the quarter, compared to the consensus estimate of $473.44 million. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. equities analysts anticipate that Echo Global Logistics will post 0.49 EPS for the current fiscal year.

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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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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