Zacks Investment Research lowered shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) from a hold rating to a sell rating in a report issued on Tuesday.

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. “

ECHO has been the topic of several other reports. Cowen and Company reaffirmed a buy rating and issued a $19.00 price objective on shares of Echo Global Logistics in a research note on Wednesday, October 4th. ValuEngine raised Echo Global Logistics from a sell rating to a hold rating in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a buy rating and issued a $18.00 price objective on shares of Echo Global Logistics in a research note on Tuesday, September 12th. Credit Suisse Group lowered Echo Global Logistics from an outperform rating to a neutral rating and reduced their price objective for the company from $23.00 to $14.00 in a research note on Monday, July 31st. Finally, UBS AG downgraded Echo Global Logistics from a neutral rating to a sell rating and dropped their target price for the company from $22.00 to $13.00 in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Echo Global Logistics currently has a consensus rating of Hold and an average target price of $19.38.

Echo Global Logistics (NASDAQ:ECHO) opened at 19.65 on Tuesday. The company has a 50 day moving average price of $16.78 and a 200-day moving average price of $18.11. The company’s market capitalization is $560.69 million. 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 released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $470.10 million during the quarter, compared to analyst estimates of $470.25 million. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. On average, analysts anticipate that Echo Global Logistics will post $0.59 EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in Echo Global Logistics by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 2,341 shares during the last quarter. SG Americas Securities LLC raised its position 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 purchasing an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Echo Global Logistics in the first quarter valued at about $121,000. Municipal Employees Retirement System of Michigan raised its position in Echo Global Logistics by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock valued at $128,000 after purchasing an additional 260 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock valued at $136,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other 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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