Echo Global Logistics (ECHO) Earns Buy Rating from Analysts at SunTrust Banks

SunTrust Banks started coverage on shares of Echo Global Logistics (NASDAQ:ECHO) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $28.00 price objective on the transportation company’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of Echo Global Logistics from a hold rating to a buy rating in a report on Tuesday, September 11th. Barrington Research dropped their price target on Echo Global Logistics from $37.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, October 26th. Cowen dropped their price target on Echo Global Logistics from $42.00 to $40.00 and set an outperform rating on the stock in a research note on Thursday, October 25th. Zacks Investment Research upgraded Echo Global Logistics from a hold rating to a buy rating and set a $29.00 price target on the stock in a research note on Thursday, November 1st. Finally, Morgan Stanley boosted their price target on Echo Global Logistics from $22.00 to $23.00 and gave the stock an underweight rating in a research note on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $32.64.

Shares of Echo Global Logistics stock opened at $21.03 on Wednesday. The stock has a market capitalization of $600.34 million, a price-to-earnings ratio of 31.86, a PEG ratio of 0.77 and a beta of 1.80. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. Echo Global Logistics has a one year low of $20.61 and a one year high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. The business had revenue of $644.82 million during the quarter, compared to the consensus estimate of $632.54 million. Echo Global Logistics had a net margin of 1.46% and a return on equity of 11.25%. On average, sell-side analysts anticipate that Echo Global Logistics will post 1.56 EPS for the current year.

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Echo Global Logistics in the second quarter valued at approximately $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Echo Global Logistics in the third quarter valued at approximately $211,000. First Trust Advisors LP purchased a new stake in Echo Global Logistics in the third quarter valued at approximately $213,000. Bowling Portfolio Management LLC purchased a new stake in Echo Global Logistics in the third quarter valued at approximately $248,000. Finally, Lido Advisors LLC purchased a new stake in Echo Global Logistics in the third quarter valued at approximately $263,000. Institutional investors and hedge funds own 98.74% 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 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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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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