Recent Analysts’ Ratings Updates for Echo Global Logistics (ECHO)

Several brokerages have updated their recommendations and price targets on shares of Echo Global Logistics (NASDAQ: ECHO) in the last few weeks:

  • 10/4/2019 – Echo Global Logistics was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $26.00 price target on the stock, up previously from $22.00.
  • 10/2/2019 – Echo Global Logistics was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/25/2019 – Echo Global Logistics was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois. “
  • 9/14/2019 – Echo Global Logistics was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of ECHO stock traded down $0.23 during trading hours on Friday, hitting $21.88. 191,069 shares of the company’s stock were exchanged, compared to its average volume of 239,129. The stock’s 50-day moving average is $21.22 and its 200-day moving average is $21.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $600.48 million, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.95. Echo Global Logistics, Inc. has a 52 week low of $18.00 and a 52 week high of $29.74.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $553.78 million during the quarter, compared to the consensus estimate of $572.60 million. Echo Global Logistics had a net margin of 1.07% and a return on equity of 11.03%. Echo Global Logistics’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Equities research analysts forecast that Echo Global Logistics, Inc. will post 1.26 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ECHO. Nuveen Asset Management LLC bought a new position in Echo Global Logistics in the second quarter valued at about $7,033,000. D. E. Shaw & Co. Inc. bought a new position in Echo Global Logistics in the second quarter valued at about $3,129,000. Lazard Asset Management LLC boosted its holdings in Echo Global Logistics by 45.8% in the first quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock valued at $9,349,000 after acquiring an additional 118,550 shares during the last quarter. AMI Asset Management Corp boosted its holdings in Echo Global Logistics by 21.5% in the second quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock valued at $9,527,000 after acquiring an additional 80,747 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Echo Global Logistics by 53.0% in the second quarter. Invesco Ltd. now owns 224,946 shares of the transportation company’s stock valued at $4,695,000 after acquiring an additional 77,880 shares during the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.

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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