Echo Global Logistics, Inc. (ECHO) Given Consensus Rating of “Hold” by Brokerages
Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.83.
Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Credit Suisse Group cut shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $14.00 in a research report on Monday, July 31st. UBS AG cut shares of Echo Global Logistics from a “neutral” rating to a “sell” rating and decreased their price target for the company from $22.00 to $13.00 in a research report on Friday, July 28th. Finally, Macquarie restated an “outperform” rating and issued a $29.00 price target on shares of Echo Global Logistics in a research report on Monday, July 10th.
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Shares of Echo Global Logistics (NASDAQ ECHO) opened at 15.25 on Friday. The firm’s market cap is $435.14 million. The firm’s 50-day moving average is $15.34 and its 200-day moving average is $18.92. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $28.90.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The business had revenue of $470.10 million during the quarter, compared to analyst estimates of $470.25 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Analysts predict that Echo Global Logistics will post $0.59 earnings per share for the current fiscal year.
In other news, COO David B. Menzel sold 10,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the completion of the sale, the chief operating officer now directly owns 163,141 shares in the company, valued at $3,177,986.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Echo Global Logistics during the second quarter valued at $353,000. North Star Asset Management Inc. raised its position in shares of Echo Global Logistics by 4.2% in the second quarter. North Star Asset Management Inc. now owns 433,452 shares of the transportation company’s stock valued at $8,626,000 after buying an additional 17,352 shares in the last quarter. State Street Corp raised its position in shares of Echo Global Logistics by 2.1% in the second quarter. State Street Corp now owns 743,270 shares of the transportation company’s stock valued at $14,792,000 after buying an additional 15,352 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Echo Global Logistics during the second quarter valued at about $14,062,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Echo Global Logistics during the second quarter valued at about $232,000. Institutional investors own 87.50% of the company’s stock.
Echo Global Logistics Company Profile
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.
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