$716.42 Million in Sales Expected for Echo Global Logistics, Inc. (NASDAQ:ECHO) This Quarter

Brokerages expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce $716.42 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Echo Global Logistics’ earnings. The lowest sales estimate is $710.32 million and the highest is $722.85 million. Echo Global Logistics posted sales of $551.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 30%. The business is expected to report its next earnings results after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $2.86 billion for the current fiscal year, with estimates ranging from $2.83 billion to $2.91 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.86 billion, with estimates ranging from $2.67 billion to $2.97 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Tuesday, February 2nd. The transportation company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. The company had revenue of $754.25 million during the quarter, compared to the consensus estimate of $703.44 million. Echo Global Logistics had a return on equity of 5.13% and a net margin of 0.28%. Echo Global Logistics’s revenue was up 41.9% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share.

A number of analysts recently issued reports on ECHO shares. Morgan Stanley raised their price target on Echo Global Logistics from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, February 8th. Susquehanna lowered Echo Global Logistics from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $32.00 in a research note on Tuesday, January 26th. Susquehanna Bancshares lowered Echo Global Logistics from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $32.00 in a research note on Tuesday, January 26th. Cowen increased their target price on Echo Global Logistics from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. Finally, Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $28.15.

ECHO traded down $0.31 during trading on Friday, reaching $31.43. The company had a trading volume of 120,339 shares, compared to its average volume of 193,941. The stock has a market cap of $836.29 million, a P/E ratio of 129.84, a PEG ratio of 1.12 and a beta of 1.05. The business has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $28.52. Echo Global Logistics has a 52 week low of $14.33 and a 52 week high of $34.61. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.37.

In related news, COO David B. Menzel sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $28.65, for a total transaction of $429,750.00. Also, Director Samuel K. Skinner sold 8,389 shares of the firm’s stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $31.22, for a total value of $261,904.58. Following the sale, the director now directly owns 48,531 shares in the company, valued at approximately $1,515,137.82. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Echo Global Logistics by 10.7% in the third quarter. BlackRock Inc. now owns 4,702,471 shares of the transportation company’s stock worth $121,183,000 after acquiring an additional 456,160 shares in the last quarter. Kestrel Investment Management Corp acquired a new stake in Echo Global Logistics in the fourth quarter worth about $3,601,000. Arrowstreet Capital Limited Partnership boosted its holdings in Echo Global Logistics by 34.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 349,435 shares of the transportation company’s stock worth $9,005,000 after acquiring an additional 89,374 shares in the last quarter. Morgan Stanley boosted its holdings in Echo Global Logistics by 80.2% in the fourth quarter. Morgan Stanley now owns 167,790 shares of the transportation company’s stock worth $4,500,000 after acquiring an additional 74,681 shares in the last quarter. Finally, Scopus Asset Management L.P. acquired a new stake in Echo Global Logistics in the third quarter worth about $1,871,000. 95.16% of the stock is currently owned by institutional investors.

About Echo Global Logistics

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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