Echo Global Logistics (NASDAQ:ECHO) had its price target reduced by Morgan Stanley from $22.00 to $21.00 in a research report released on Monday, AnalystRatings.com reports. They currently have an equal weight rating on the transportation company’s stock.

ECHO has been the subject of several other research reports. Cowen reiterated a buy rating and issued a $29.00 price objective on shares of Echo Global Logistics in a research note on Friday, January 24th. Barrington Research assumed coverage on shares of Echo Global Logistics in a research note on Tuesday, February 4th. They issued a buy rating and a $27.00 price objective for the company. BidaskClub upgraded shares of Echo Global Logistics from a sell rating to a hold rating in a research note on Monday. Susquehanna Bancshares upgraded shares of Echo Global Logistics from a neutral rating to a positive rating and set a $29.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Zacks Investment Research lowered shares of Echo Global Logistics from a hold rating to a sell rating in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $25.67.

Shares of NASDAQ:ECHO traded down $0.45 during mid-day trading on Monday, hitting $20.66. The company had a trading volume of 60,194 shares, compared to its average volume of 241,884. The firm has a fifty day moving average price of $21.23 and a 200 day moving average price of $21.01. The company has a market capitalization of $571.01 million, a PE ratio of 37.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.39. Echo Global Logistics has a one year low of $18.00 and a one year high of $25.95.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $531.70 million during the quarter, compared to analyst estimates of $520.39 million. Echo Global Logistics had a net margin of 0.68% and a return on equity of 8.06%. Echo Global Logistics’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Research analysts expect that Echo Global Logistics will post 0.94 earnings per share for the current fiscal year.

In related news, COO David B. Menzel sold 20,000 shares of Echo Global Logistics stock in a transaction on Monday, December 30th. The shares were sold at an average price of $20.89, for a total value of $417,800.00. Following the completion of the sale, the chief operating officer now owns 145,722 shares of the company’s stock, valued at approximately $3,044,132.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in Echo Global Logistics in the 4th quarter valued at $35,000. Strs Ohio purchased a new position in Echo Global Logistics during the 3rd quarter worth $70,000. SG Americas Securities LLC purchased a new position in Echo Global Logistics during the 4th quarter worth $119,000. First Trust Advisors LP purchased a new position in Echo Global Logistics during the 1st quarter worth $208,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Echo Global Logistics by 16.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,480 shares of the transportation company’s stock worth $279,000 after acquiring an additional 1,900 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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