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.
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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