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.
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.
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