Morgan Stanley Analysts Give Echo Global Logistics (NASDAQ:ECHO) a $23.00 Price Target

Morgan Stanley set a $23.00 price target on Echo Global Logistics (NASDAQ:ECHO) in a report issued on Monday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the transportation company’s stock.

ECHO has been the topic of a number of other research reports. Cowen boosted their target price on shares of ServiceNow from $260.00 to $280.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. BidaskClub raised shares of Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. Loop Capital lowered shares of Ryder System from a buy rating to a hold rating and dropped their target price for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Garrett Motion from a sell rating to a hold rating in a research report on Friday, May 10th. Finally, Stephens set a $112.00 target price on shares of Genesee & Wyoming and gave the stock a hold rating in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $28.40.

NASDAQ:ECHO opened at $19.11 on Monday. Echo Global Logistics has a 12 month low of $18.83 and a 12 month high of $36.75. The company has a market capitalization of $537.02 million, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50 day moving average price of $20.02.



Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. The company had revenue of $538.10 million for the quarter, compared to analyst estimates of $549.32 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, research analysts expect that Echo Global Logistics will post 1.51 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Echo Global Logistics by 46.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,626 shares of the transportation company’s stock valued at $65,000 after buying an additional 828 shares during the period. NumerixS Investment Technologies Inc increased its holdings in Echo Global Logistics by 148.4% in the 4th quarter. NumerixS Investment Technologies Inc now owns 4,720 shares of the transportation company’s stock valued at $95,000 after buying an additional 2,820 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Echo Global Logistics by 1,316.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,823 shares of the transportation company’s stock valued at $144,000 after buying an additional 5,412 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Echo Global Logistics in the 4th quarter valued at $165,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Echo Global Logistics by 388.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,186 shares of the transportation company’s stock valued at $187,000 after buying an additional 7,304 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

About Echo Global Logistics

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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