Echo Global Logistics (ECHO) Receives Buy Rating from Stephens

Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “buy” rating reiterated by stock analysts at Stephens in a research report issued to clients and investors on Wednesday. They currently have a $34.00 target price on the transportation company’s stock. Stephens’ price target would indicate a potential upside of 19.72% from the company’s current price.

ECHO has been the topic of several other research reports. Cowen raised their target price on shares of Echo Global Logistics from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. JPMorgan Chase & Co. raised their target price on shares of Echo Global Logistics from $19.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Stifel Nicolaus raised their target price on shares of Echo Global Logistics from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Wednesday, November 1st. Finally, UBS Group raised their target price on shares of Echo Global Logistics from $13.00 to $19.00 and gave the stock a “sell” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, six 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 price target of $24.90.

Echo Global Logistics (ECHO) traded down $0.05 during trading hours on Wednesday, hitting $28.40. 306,400 shares of the stock were exchanged, compared to its average volume of 284,417. Echo Global Logistics has a 1 year low of $13.00 and a 1 year high of $29.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $796.76, a PE ratio of -218.46, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Echo Global Logistics had a net margin of 0.47% and a return on equity of 2.78%. The company had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $473.44 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. sell-side analysts forecast that Echo Global Logistics will post 0.49 EPS for the current year.

In other Echo Global Logistics news, CEO Douglas R. Waggoner sold 25,160 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $23.91, for a total value of $601,575.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David B. Menzel sold 30,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the completion of the transaction, the chief operating officer now owns 180,322 shares in the company, valued at $4,426,905.10. The disclosure for this sale can be found here. Insiders sold 253,660 shares of company stock worth $6,035,871 over the last quarter. Insiders own 8.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECHO. SG Americas Securities LLC raised its position in shares of Echo Global Logistics by 22.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,266 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Echo Global Logistics by 63.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock valued at $161,000 after purchasing an additional 3,139 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Echo Global Logistics by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 3,830 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Echo Global Logistics during the 3rd quarter valued at $207,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Echo Global Logistics during the 2nd quarter valued at $232,000. Institutional investors and hedge funds own 94.92% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Echo Global Logistics (ECHO) Receives Buy Rating from Stephens” was originally posted by BBNS and is the property of of BBNS. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://baseballnewssource.com/markets/echo-global-logistics-echo-receives-buy-rating-from-stephens/1822852.html.

About Echo Global Logistics

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.