Echo Global Logistics (NASDAQ:ECHO) Given a $23.00 Price Target at Morgan Stanley

Morgan Stanley set a $23.00 price target on Echo Global Logistics (NASDAQ:ECHO) in a report released on Monday, Stock Target Advisor reports. The firm currently has a hold rating on the transportation company’s stock.

Other equities analysts also recently issued reports about the company. Stephens set a $112.00 price objective on Genesee & Wyoming and gave the stock a hold rating in a research report on Monday, July 1st. Cowen raised their price objective on ServiceNow from $260.00 to $280.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Susquehanna Bancshares downgraded Echo Global Logistics from a positive rating to a neutral rating in a research report on Wednesday, April 10th. Zacks Investment Research upgraded Garrett Motion from a sell rating to a hold rating in a research report on Friday, May 10th. Finally, Loop Capital downgraded Ryder System from a buy rating to a hold rating and lowered their price objective for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $28.40.

Shares of ECHO traded down $0.14 during mid-day trading on Monday, reaching $19.11. 187,500 shares of the company were exchanged, compared to its average volume of 241,447. Echo Global Logistics has a 52 week low of $18.83 and a 52 week high of $36.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $537.02 million, a PE ratio of 11.80, a PEG ratio of 0.74 and a beta of 1.95. The stock has a 50 day simple moving average of $20.05.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Echo Global Logistics had a return on equity of 11.64% and a net margin of 1.15%. The company had revenue of $538.10 million during the quarter, compared to the consensus estimate of $549.32 million. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts predict that Echo Global Logistics will post 1.51 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Echo Global Logistics by 46.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,626 shares of the transportation company’s stock worth $65,000 after purchasing an additional 828 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in Echo Global Logistics by 148.4% in the fourth quarter. NumerixS Investment Technologies Inc now owns 4,720 shares of the transportation company’s stock worth $95,000 after purchasing an additional 2,820 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Echo Global Logistics by 1,316.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,823 shares of the transportation company’s stock worth $144,000 after purchasing an additional 5,412 shares in the last quarter. Bailard Inc. bought a new stake in Echo Global Logistics in the first quarter worth approximately $201,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Echo Global Logistics in the fourth quarter worth approximately $165,000. Institutional investors and hedge funds own 97.99% of the company’s stock.

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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