Echo Global Logistics (NASDAQ:ECHO) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a research note published on Saturday morning, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Echo Global Logistics from a sell rating to a hold rating in a research note on Wednesday, October 2nd. UBS Group set a $23.00 price target on shares of Echo Global Logistics and gave the company a hold rating in a research note on Friday, July 26th. Zacks Investment Research downgraded shares of Echo Global Logistics from a hold rating to a sell rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of Echo Global Logistics from an overweight rating to a neutral rating and raised their price target for the company from $22.00 to $26.00 in a research note on Friday, October 4th. Finally, Credit Suisse Group raised their price target on shares of Echo Global Logistics from $21.00 to $22.00 and gave the company a neutral rating in a research note on Thursday, October 24th. 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’s stock. The stock presently has an average rating of Hold and a consensus price target of $25.40.

Shares of ECHO traded down $0.01 during trading hours on Friday, hitting $21.97. The company had a trading volume of 135,500 shares, compared to its average volume of 238,907. The business has a fifty day moving average of $22.24 and a 200-day moving average of $21.16. Echo Global Logistics has a 12 month low of $18.00 and a 12 month high of $26.33. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.49. The firm has a market cap of $582.47 million, a price-to-earnings ratio of 13.56, a PEG ratio of 1.03 and a beta of 1.91.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Echo Global Logistics had a net margin of 0.91% and a return on equity of 9.70%. The company had revenue of $561.44 million for the quarter, compared to the consensus estimate of $548.10 million. During the same period last year, the company posted $0.55 EPS. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, equities analysts expect that Echo Global Logistics will post 1.18 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Echo Global Logistics by 265.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock worth $63,000 after buying an additional 2,196 shares during the period. Strs Ohio acquired a new stake in Echo Global Logistics during the 3rd quarter worth approximately $70,000. Quantamental Technologies LLC acquired a new stake in Echo Global Logistics during the 2nd quarter worth approximately $78,000. Convergence Investment Partners LLC acquired a new stake in Echo Global Logistics during the 2nd quarter worth approximately $119,000. Finally, First Trust Advisors LP acquired a new stake in Echo Global Logistics during the 1st quarter worth approximately $208,000. Institutional investors and hedge funds own 95.10% 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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