Echo Global Logistics (NASDAQ:ECHO) Upgraded at BidaskClub

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

ECHO has been the subject of a number of other research reports. Zacks Investment Research downgraded Echo Global Logistics from a hold rating to a sell rating in a research report on Monday, July 29th. Barrington Research cut their price objective on Echo Global Logistics from $29.00 to $25.00 and set an outperform rating for the company in a research report on Friday, July 26th. They noted that the move was a valuation call. Cowen reiterated an outperform rating and set a $30.00 price objective (down previously from $33.00) on shares of Echo Global Logistics in a research report on Thursday, July 25th. UBS Group set a $23.00 price objective on Echo Global Logistics and gave the company a hold rating in a research report on Friday, July 26th. Finally, Stephens downgraded Echo Global Logistics from an overweight rating to an equal weight rating and set a $26.00 price objective for the company. in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Echo Global Logistics currently has a consensus rating of Hold and a consensus target price of $25.44.

ECHO opened at $23.35 on Friday. The company has a market capitalization of $643.59 million, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Echo Global Logistics has a 1-year low of $18.00 and a 1-year high of $36.50. The business has a 50 day moving average price of $20.53 and a two-hundred day moving average price of $21.69.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $553.78 million during the quarter, compared to analyst estimates of $572.60 million. Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities analysts expect that Echo Global Logistics will post 1.26 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in ECHO. Nuveen Asset Management LLC purchased a new stake in shares of Echo Global Logistics in the second quarter valued at $7,033,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Echo Global Logistics in the second quarter valued at $3,129,000. Lazard Asset Management LLC lifted its holdings in shares of Echo Global Logistics by 45.8% in the first quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock valued at $9,349,000 after purchasing an additional 118,550 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Echo Global Logistics by 21.5% in the second quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock valued at $9,527,000 after purchasing an additional 80,747 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Echo Global Logistics by 53.0% in the second quarter. Invesco Ltd. now owns 224,946 shares of the transportation company’s stock valued at $4,695,000 after purchasing an additional 77,880 shares in the last quarter. Institutional investors own 97.46% of the company’s stock.

About Echo Global Logistics

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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