Echo Global Logistics (ECHO) Earns Outperform Rating from Cowen

Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “outperform” rating reiterated by stock analysts at Cowen in a report released on Thursday, MarketBeat reports. They presently have a $34.00 target price on the transportation company’s stock, up from their prior target price of $23.00. Cowen’s price objective suggests a potential upside of 19.51% from the company’s previous close.

Other analysts have also recently issued reports about the company. Stephens reaffirmed a “buy” rating and issued a $34.00 price target on shares of Echo Global Logistics in a research note on Wednesday, January 10th. Morgan Stanley upped their price target on Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. UBS Group raised Echo Global Logistics from a “sell” rating to a “neutral” rating and set a $33.00 price target for the company in a research note on Monday, January 29th. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price target (up from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. Finally, Credit Suisse Group upped their price target on Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Echo Global Logistics presently has an average rating of “Hold” and an average price target of $29.90.

Shares of Echo Global Logistics (NASDAQ ECHO) opened at $28.45 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.40. The company has a market capitalization of $799.55, a PE ratio of 42.76, a PEG ratio of 2.29 and a beta of 1.55. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $32.95.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. The company had revenue of $547.70 million during the quarter, compared to analysts’ expectations of $484.47 million. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. Echo Global Logistics’s revenue was up 34.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. sell-side analysts predict that Echo Global Logistics will post 0.72 earnings per share for the current year.

In related news, COO David B. Menzel sold 30,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the completion of the sale, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ECHO. Schwab Charles Investment Management Inc. increased its stake in Echo Global Logistics by 33.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock worth $4,335,000 after purchasing an additional 54,658 shares in the last quarter. Alliancebernstein L.P. boosted its position in Echo Global Logistics by 8.7% during the 2nd quarter. Alliancebernstein L.P. now owns 36,320 shares of the transportation company’s stock worth $723,000 after acquiring an additional 2,900 shares during the last quarter. Nationwide Fund Advisors boosted its position in Echo Global Logistics by 4.2% during the 2nd quarter. Nationwide Fund Advisors now owns 19,921 shares of the transportation company’s stock worth $396,000 after acquiring an additional 800 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in Echo Global Logistics by 6.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,490 shares of the transportation company’s stock worth $328,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Echo Global Logistics by 51.7% during the 2nd quarter. Northern Trust Corp now owns 623,201 shares of the transportation company’s stock worth $12,401,000 after acquiring an additional 212,341 shares during the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

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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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