Echo Global Logistics, Inc. (NASDAQ:ECHO)‘s stock had its “buy” rating reissued by investment analysts at Cowen and Company in a note issued to investors on Friday. They presently have a $19.00 target price on the transportation company’s stock. Cowen and Company’s price objective suggests a potential upside of 25.00% from the stock’s previous close.

ECHO has been the subject of a number of other reports. BidaskClub cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Macquarie reissued an “outperform” rating and issued a $29.00 price objective on shares of Echo Global Logistics in a research report on Monday, July 10th. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Morgan Stanley cut shares of Echo Global Logistics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $26.00 to $14.00 in a research report on Monday, August 7th. Finally, Barrington Research decreased their price objective on shares of Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.57.

Echo Global Logistics (NASDAQ:ECHO) opened at 15.20 on Friday. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $28.90. The company has a 50-day moving average price of $15.44 and a 200-day moving average price of $18.98. The stock’s market capitalization is $433.72 million.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.02. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. The business had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $470.25 million. During the same period last year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that Echo Global Logistics will post $0.59 earnings per share for the current year.

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In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $19.48, for a total value of $194,800.00. Following the completion of the transaction, the chief operating officer now directly owns 163,141 shares of the company’s stock, valued at approximately $3,177,986.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.10% of the company’s stock.

Several institutional investors have recently modified their holdings of ECHO. Dimensional Fund Advisors LP boosted its position in shares of Echo Global Logistics by 20.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock valued at $35,960,000 after buying an additional 309,610 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Echo Global Logistics by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock valued at $29,299,000 after buying an additional 45,347 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Echo Global Logistics by 25.1% in the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after buying an additional 279,142 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Echo Global Logistics by 53.0% in the first quarter. Loomis Sayles & Co. L P now owns 786,219 shares of the transportation company’s stock valued at $16,786,000 after buying an additional 272,321 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of Echo Global Logistics by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 776,218 shares of the transportation company’s stock valued at $15,447,000 after buying an additional 156,516 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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)

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