Echo Global Logistics (ECHO) Raised to Neutral at UBS Group

Echo Global Logistics (NASDAQ:ECHO) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued on Monday, www.benzinga.com reports. The brokerage currently has a $33.00 target price on the transportation company’s stock. UBS Group’s price target would indicate a potential upside of 8.73% from the company’s current price.

A number of other equities research analysts have also issued reports on ECHO. Stephens reaffirmed a “buy” rating and issued a $34.00 price target on shares of Echo Global Logistics in a research report on Wednesday, January 10th. Cowen reaffirmed a “buy” rating and issued a $19.00 price target on shares of Echo Global Logistics in a research report on Wednesday, October 4th. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research raised Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on Echo Global Logistics from $19.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.30.

Echo Global Logistics (NASDAQ:ECHO) traded down $0.25 during mid-day trading on Monday, reaching $30.35. The company’s stock had a trading volume of 376,899 shares, compared to its average volume of 311,474. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market cap of $842.81, a price-to-earnings ratio of -233.46, a P/E/G ratio of 2.45 and a beta of 1.55. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $32.95.

In other news, COO David B. Menzel sold 30,000 shares of the firm’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 sale, the chief operating officer now owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total value of $2,821,200.00. Following the sale, the director now directly owns 24,346 shares in the company, valued at approximately $572,374.46. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock worth $6,035,871 in the last ninety days. 8.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Taylor Frigon Capital Management LLC acquired a new stake in shares of Echo Global Logistics during the 4th quarter worth about $2,978,000. Rice Hall James & Associates LLC raised its position in shares of Echo Global Logistics by 6.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 704,154 shares of the transportation company’s stock worth $19,716,000 after acquiring an additional 44,669 shares in the last quarter. Bank of Montreal Can raised its position in shares of Echo Global Logistics by 1,027.6% during the 4th quarter. Bank of Montreal Can now owns 51,351 shares of the transportation company’s stock worth $1,438,000 after acquiring an additional 46,797 shares in the last quarter. Granahan Investment Management Inc. MA raised its position in shares of Echo Global Logistics by 1,669.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after acquiring an additional 793,366 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Echo Global Logistics by 13.3% during the 3rd quarter. Stifel Financial Corp now owns 26,637 shares of the transportation company’s stock worth $508,000 after acquiring an additional 3,128 shares in the last quarter. 93.47% of the stock is currently 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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