Echo Global Logistics (ECHO) Lifted to “Buy” at Loop Capital

Loop Capital upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a research note released on Monday, Marketbeat Ratings reports. They currently have $31.00 target price on the transportation company’s stock, up from their previous target price of $30.00.

ECHO has been the topic of a number of other research reports. TheStreet raised Echo Global Logistics from a c+ rating to a b- rating in a report on Friday, August 10th. BidaskClub lowered Echo Global Logistics from a hold rating to a sell rating in a report on Wednesday, October 3rd. Barrington Research reaffirmed a buy rating and issued a $37.00 price objective on shares of Echo Global Logistics in a report on Wednesday, October 24th. Morgan Stanley lifted their price objective on Echo Global Logistics from $22.00 to $23.00 and gave the company an underweight rating in a report on Tuesday, October 9th. Finally, Cowen lowered their price objective on Echo Global Logistics from $42.00 to $40.00 and set an outperform rating on the stock in a report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Echo Global Logistics presently has a consensus rating of Hold and an average target price of $33.40.

ECHO stock traded up $0.51 during trading on Monday, hitting $25.99. The company had a trading volume of 6,806 shares, compared to its average volume of 537,054. The stock has a market capitalization of $713.68 million, a PE ratio of 39.38, a price-to-earnings-growth ratio of 1.01 and a beta of 1.61. Echo Global Logistics has a 1-year low of $23.10 and a 1-year high of $36.75. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.55.



Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. Echo Global Logistics had a return on equity of 11.25% and a net margin of 1.46%. The company had revenue of $644.82 million for the quarter, compared to analyst estimates of $632.54 million. Analysts expect that Echo Global Logistics will post 1.42 earnings per share for the current fiscal year.

In other news, CEO Douglas R. Waggoner sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total transaction of $165,150.00. Following the sale, the chief executive officer now owns 311,532 shares of the company’s stock, valued at approximately $10,289,901.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Echo Global Logistics during the 2nd quarter worth approximately $175,000. Piedmont Investment Advisors LLC purchased a new stake in Echo Global Logistics in the 2nd quarter valued at approximately $182,000. First Trust Advisors LP purchased a new stake in Echo Global Logistics in the 3rd quarter valued at approximately $213,000. Bowling Portfolio Management LLC purchased a new stake in Echo Global Logistics in the 3rd quarter valued at approximately $248,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Echo Global Logistics in the 1st quarter valued at approximately $279,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Earnings Per Share (EPS) Explained

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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