Echo Global Logistics’ (ECHO) “Outperform” Rating Reiterated at Cowen

Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “outperform” rating reiterated by equities researchers at Cowen in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $34.00 price objective on the transportation company’s stock, up from their prior price objective of $23.00. Cowen’s price target would indicate a potential upside of 19.51% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Stephens restated a “buy” rating and set a $34.00 price objective on shares of Echo Global Logistics in a report on Wednesday, January 10th. Morgan Stanley increased their target price on shares of Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. UBS Group upgraded shares of Echo Global Logistics from a “sell” rating to a “neutral” rating and set a $33.00 target price for the company in a report on Monday, January 29th. Barrington Research reiterated an “outperform” rating and issued a $26.00 target price (up previously from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Finally, Credit Suisse Group increased their target price on shares of Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.90.

Shares of Echo Global Logistics (NASDAQ ECHO) traded down $0.20 during trading hours on Thursday, hitting $28.45. The stock had a trading volume of 701,247 shares, compared to its average volume of 380,991. Echo Global Logistics has a one year low of $13.00 and a one year high of $32.95. The firm has a market cap of $793.98, a P/E ratio of 61.85, a PEG ratio of 2.27 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.40.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The company had revenue of $547.70 million during the quarter, compared to the consensus estimate of $484.47 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. research analysts expect that Echo Global Logistics will post 0.72 earnings per share for the current fiscal year.

In other news, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the transaction, the chief operating officer now owns 180,322 shares in the company, valued at $4,426,905.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA lifted its stake in 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 valued at $15,851,000 after acquiring an additional 793,366 shares during the period. Janus Henderson Group PLC acquired a new position in Echo Global Logistics during the 2nd quarter worth about $14,062,000. Hood River Capital Management LLC acquired a new position in Echo Global Logistics during the 4th quarter worth about $9,043,000. Kornitzer Capital Management Inc. KS acquired a new position in Echo Global Logistics during the 3rd quarter worth about $5,942,000. Finally, Dimensional Fund Advisors LP lifted its stake in Echo Global Logistics by 20.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after acquiring an additional 309,610 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

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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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