Analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce $589.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Echo Global Logistics’ earnings, with the highest sales estimate coming in at $596.51 million and the lowest estimate coming in at $582.90 million. Echo Global Logistics reported sales of $547.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is expected to report its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Echo Global Logistics will report full-year sales of $2.44 billion for the current financial year, with estimates ranging from $2.44 billion to $2.45 billion. For the next financial year, analysts expect that the firm will report sales of $2.62 billion, with estimates ranging from $2.56 billion to $2.73 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. The business had revenue of $644.82 million during the quarter, compared to analyst estimates of $632.54 million. Echo Global Logistics had a return on equity of 11.25% and a net margin of 1.46%.

ECHO has been the subject of a number of recent research reports. BidaskClub lowered Echo Global Logistics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Loop Capital upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $31.00 in a research note on Monday, October 29th. Cowen lifted their price objective on Echo Global Logistics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, July 16th. Morgan Stanley set a $22.00 price objective on Echo Global Logistics and gave the company a “sell” rating in a research note on Monday, October 22nd. Finally, ValuEngine lowered Echo Global Logistics from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Echo Global Logistics currently has an average rating of “Hold” and an average target price of $33.10.

In other news, CEO Douglas R. Waggoner sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total transaction of $165,150.00. Following the sale, the chief executive officer now directly owns 311,532 shares in the company, valued at approximately $10,289,901.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC grew its position in shares of Echo Global Logistics by 20.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 13,053 shares of the transportation company’s stock valued at $382,000 after acquiring an additional 2,256 shares during the period. Pinebridge Investments L.P. grew its position in shares of Echo Global Logistics by 5.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 46,078 shares of the transportation company’s stock valued at $1,348,000 after acquiring an additional 2,335 shares during the period. Rhumbline Advisers grew its position in shares of Echo Global Logistics by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 65,984 shares of the transportation company’s stock valued at $1,930,000 after acquiring an additional 2,376 shares during the period. First Republic Investment Management Inc. grew its position in shares of Echo Global Logistics by 27.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 11,176 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 2,394 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Echo Global Logistics by 7.0% during the 2nd quarter. California Public Employees Retirement System now owns 37,881 shares of the transportation company’s stock valued at $1,108,000 after acquiring an additional 2,481 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Shares of NASDAQ ECHO traded down $1.14 during trading on Wednesday, reaching $25.25. 371,110 shares of the company traded hands, compared to its average volume of 461,743. The firm has a market capitalization of $762.50 million, a P/E ratio of 38.26, a PEG ratio of 0.98 and a beta of 1.84. Echo Global Logistics has a 12-month low of $23.25 and a 12-month high of $36.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.51 and a current ratio of 1.51.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

Featured Article: Tariff

Get a free copy of the Zacks research report on Echo Global Logistics (ECHO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 MarketBeat.com's FREE daily email newsletter.