Echo Global Logistics (ECHO) Rating Reiterated by Stifel Nicolaus

Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research report issued on Friday. They currently have a $31.00 target price on the transportation company’s stock, up from their previous target price of $25.00. Stifel Nicolaus’ price objective points to a potential upside of 12.93% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ECHO. Cowen reiterated a “buy” rating and issued a $19.00 price objective on shares of Echo Global Logistics in a research report on Friday, September 1st. ValuEngine downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. J P Morgan Chase & Co increased their price objective on Echo Global Logistics from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Finally, UBS increased their price objective on Echo Global Logistics from $13.00 to $19.00 and gave the stock a “sell” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.50.

Shares of Echo Global Logistics (NASDAQ ECHO) opened at $27.45 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.40. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $28.90. The stock has a market capitalization of $766.06, a price-to-earnings ratio of 66.34, a P/E/G ratio of 3.16 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The company had revenue of $509.50 million for the quarter, compared to the consensus estimate of $473.44 million. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. analysts expect that Echo Global Logistics will post 0.49 EPS for the current fiscal year.

In other Echo Global Logistics news, COO David B. Menzel sold 57,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.91, for a total transaction of $1,374,825.00. Following the sale, the chief operating officer now owns 187,822 shares in the company, valued at $4,490,824.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total value of $2,821,200.00. Following the sale, the director now owns 24,346 shares in the company, valued at approximately $572,374.46. The disclosure for this sale can be found here. Insiders have sold 253,660 shares of company stock worth $6,035,871 in the last 90 days. Company insiders own 8.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECHO. State of Alaska Department of Revenue increased its holdings in shares of 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 worth $106,000 after buying an additional 2,341 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of 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 worth $128,000 after buying an additional 260 shares during the period. SG Americas Securities LLC increased its holdings in shares of Echo Global Logistics by 22.5% in the second quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock worth $137,000 after buying an additional 1,266 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Echo Global Logistics by 63.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock worth $161,000 after buying an additional 3,139 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Echo Global Logistics in the third quarter worth about $207,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

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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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