Cowen and Company restated their buy rating on shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in a research report sent to investors on Wednesday. They currently have a $19.00 target price on the transportation company’s stock.

A number of other research firms also recently commented on ECHO. Macquarie reiterated an outperform rating and issued a $29.00 price target on shares of Echo Global Logistics in a research note on Monday, July 10th. Zacks Investment Research upgraded Echo Global Logistics from a sell rating to a hold rating in a research note on Monday. ValuEngine upgraded Echo Global Logistics from a sell rating to a hold rating in a research note on Monday. Stifel Nicolaus reiterated a buy rating on shares of Echo Global Logistics in a research note on Wednesday, July 19th. Finally, BidaskClub downgraded Echo Global Logistics from a hold rating to a sell rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $19.38.

Echo Global Logistics (NASDAQ ECHO) traded up 1.84% on Wednesday, reaching $19.40. The company had a trading volume of 621,599 shares. The stock’s market capitalization is $553.56 million. The firm has a 50-day moving average of $16.13 and a 200-day moving average of $18.15. 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 posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $470.10 million during the quarter, compared to analyst estimates of $470.25 million. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities research analysts expect that Echo Global Logistics will post $0.59 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after acquiring an additional 70 shares during the period. Arizona State Retirement System boosted its stake in Echo Global Logistics by 0.7% in the first quarter. Arizona State Retirement System now owns 14,264 shares of the transportation company’s stock valued at $305,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its stake in Echo Global Logistics by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock valued at $223,000 after acquiring an additional 100 shares during the period. Nicolet Bankshares Inc. boosted its stake in Echo Global Logistics by 1.4% in the second quarter. Nicolet Bankshares Inc. now owns 11,005 shares of the transportation company’s stock valued at $219,000 after acquiring an additional 150 shares during the period. Finally, Texas Permanent School Fund boosted its stake in Echo Global Logistics by 1.1% in the second quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock valued at $398,000 after acquiring an additional 214 shares during the period. Institutional investors own 87.50% of the company’s stock.

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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