Echo Global Logistics, Inc. (NASDAQ:ECHO) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,644,600 shares, a decline of 9.1% from the June 30th total of 1,809,500 shares. Based on an average daily trading volume, of 254,900 shares, the short-interest ratio is presently 6.5 days. Approximately 6.1% of the shares of the stock are short sold.
ECHO stock traded up $0.49 during trading on Friday, hitting $19.74. The stock had a trading volume of 186,452 shares, compared to its average volume of 240,645. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Echo Global Logistics has a twelve month low of $18.00 and a twelve month high of $36.75. The stock has a market capitalization of $555.20 million, a P/E ratio of 12.19, a PEG ratio of 0.84 and a beta of 2.00. The company’s 50-day moving average price is $20.09 and its two-hundred day moving average price is $22.30.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The business had revenue of $553.78 million during the quarter, compared to analysts’ expectations of $572.60 million. During the same period last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Echo Global Logistics will post 1.38 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECHO. Tower Research Capital LLC TRC lifted its stake in Echo Global Logistics by 265.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock worth $63,000 after purchasing an additional 2,196 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $65,000 after purchasing an additional 828 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Echo Global Logistics in the 2nd quarter worth approximately $78,000. Convergence Investment Partners LLC purchased a new position in Echo Global Logistics in the 2nd quarter worth approximately $119,000. Finally, BNP Paribas Arbitrage SA lifted its stake 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 worth $144,000 after purchasing an additional 5,412 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Echo Global Logistics Company Profile
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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