Echo Global Logistics (ECHO) Price Target Lowered to $40.00 at Cowen

Echo Global Logistics (NASDAQ:ECHO) had its price target lowered by Cowen from $42.00 to $40.00 in a research report report published on Thursday. The firm currently has an outperform rating on the transportation company’s stock.

Several other analysts also recently commented on ECHO. Barrington Research reiterated a buy rating on shares of Echo Global Logistics in a report on Friday, June 29th. BidaskClub downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a report on Wednesday, June 27th. Morgan Stanley set a $22.00 target price on shares of Echo Global Logistics and gave the company a sell rating in a report on Monday. Stifel Nicolaus raised their price objective on shares of Echo Global Logistics from $34.00 to $40.00 and gave the stock a buy rating in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a report on Monday, July 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $33.30.

Shares of ECHO stock traded down $1.07 on Thursday, hitting $25.00. The stock had a trading volume of 381,200 shares, compared to its average volume of 409,527. The company has a market cap of $738.83 million, a P/E ratio of 37.88, a P/E/G ratio of 1.04 and a beta of 1.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.46 and a quick ratio of 1.46. Echo Global Logistics has a 12-month low of $23.00 and a 12-month high of $36.75.



Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The company had revenue of $644.82 million during the quarter, compared to the consensus estimate of $632.54 million. Echo Global Logistics had a net margin of 1.24% and a return on equity of 9.43%. As a group, research analysts expect that Echo Global Logistics will post 1.42 earnings per share for the current fiscal year.

In related news, COO David B. Menzel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $34.13, for a total transaction of $682,600.00. Following the completion of the sale, the chief operating officer now owns 147,334 shares in the company, valued at $5,028,509.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas R. Waggoner sold 5,000 shares of Echo Global Logistics stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total transaction of $165,150.00. Following the completion of the transaction, the chief executive officer now owns 311,532 shares of the company’s stock, valued at approximately $10,289,901.96. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock valued at $1,048,690 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Echo Global Logistics by 13.0% in the second quarter. BlackRock Inc. now owns 4,048,029 shares of the transportation company’s stock worth $118,405,000 after purchasing an additional 464,917 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Echo Global Logistics by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,374,061 shares of the transportation company’s stock worth $69,441,000 after purchasing an additional 53,996 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Echo Global Logistics by 1.5% in the second quarter. Rice Hall James & Associates LLC now owns 704,811 shares of the transportation company’s stock worth $20,616,000 after purchasing an additional 10,592 shares in the last quarter. Intrinsic Edge Capital Management LLC increased its stake in shares of Echo Global Logistics by 29.4% in the second quarter. Intrinsic Edge Capital Management LLC now owns 664,567 shares of the transportation company’s stock worth $19,439,000 after purchasing an additional 150,924 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Echo Global Logistics by 6.6% in the second quarter. Northern Trust Corp now owns 629,961 shares of the transportation company’s stock worth $18,426,000 after purchasing an additional 38,775 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

About Echo Global Logistics

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

Featured Story: What does RSI mean?

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply