Echo Global Logistics, Inc. (ECHO) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 28.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,194 shares of the transportation company’s stock after purchasing an additional 13,372 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of Echo Global Logistics worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Echo Global Logistics during the second quarter worth about $175,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Echo Global Logistics during the second quarter worth about $182,000. First Trust Advisors LP purchased a new stake in shares of Echo Global Logistics during the third quarter worth about $213,000. Bowling Portfolio Management LLC purchased a new stake in shares of Echo Global Logistics during the third quarter worth about $248,000. Finally, First Republic Investment Management Inc. grew its holdings in shares of Echo Global Logistics by 27.3% during the second quarter. First Republic Investment Management Inc. now owns 11,176 shares of the transportation company’s stock worth $327,000 after buying an additional 2,394 shares in the last quarter.

A number of equities research analysts have recently commented on ECHO shares. TheStreet upgraded shares of Echo Global Logistics from a “c+” rating to a “b-” rating in a report on Friday, August 10th. Barrington Research reiterated a “buy” rating and set a $37.00 price target on shares of Echo Global Logistics in a report on Wednesday, October 24th. BidaskClub upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Loop Capital upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating and boosted their target price for the company from $30.00 to $31.00 in a report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.10.

Shares of ECHO stock opened at $24.75 on Monday. The company has a market cap of $706.54 million, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 0.91 and a beta of 1.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.51 and a current ratio of 1.51. Echo Global Logistics, Inc. has a fifty-two week low of $24.03 and a fifty-two week high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. The firm had revenue of $644.82 million for the quarter, compared to analysts’ expectations of $632.54 million. Echo Global Logistics had a net margin of 1.46% and a return on equity of 11.25%. As a group, equities research analysts anticipate that Echo Global Logistics, Inc. will post 1.56 earnings per share for the current fiscal year.

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About Echo Global Logistics

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

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Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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