Echo Global Logistics, Inc. (NASDAQ:ECHO) Short Interest Update

Echo Global Logistics, Inc. (NASDAQ:ECHO) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,420,000 shares, a growth of 24.6% from the September 30th total of 1,140,000 shares. Based on an average trading volume of 233,300 shares, the short-interest ratio is presently 6.1 days. Approximately 5.4% of the shares of the stock are sold short.

A number of brokerages have recently commented on ECHO. Credit Suisse Group increased their price objective on Echo Global Logistics from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Cowen cut their price objective on Echo Global Logistics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barrington Research restated a “buy” rating and issued a $27.00 target price on shares of Echo Global Logistics in a report on Monday, October 28th. UBS Group set a $23.00 target price on Echo Global Logistics and gave the company a “hold” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered Echo Global Logistics from an “overweight” rating to a “neutral” rating and increased their target price for the company from $22.00 to $26.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Echo Global Logistics has an average rating of “Hold” and an average target price of $25.40.

Shares of ECHO traded down $0.06 during mid-day trading on Thursday, reaching $20.82. The company’s stock had a trading volume of 98,500 shares, compared to its average volume of 236,594. The business has a fifty day moving average of $22.06 and a 200 day moving average of $21.08. The company has a market cap of $591.21 million, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.91. Echo Global Logistics has a 1 year low of $18.00 and a 1 year high of $26.30. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.49.

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

Several hedge funds and other institutional investors have recently bought and sold shares of ECHO. Tower Research Capital LLC TRC increased its stake in shares of Echo Global Logistics by 265.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock worth $63,000 after acquiring an additional 2,196 shares during the last quarter. Strs Ohio acquired a new position in shares of Echo Global Logistics in the third quarter worth $70,000. Quantamental Technologies LLC acquired a new position in shares of Echo Global Logistics in the second quarter worth $78,000. Convergence Investment Partners LLC acquired a new position in shares of Echo Global Logistics in the second quarter worth $119,000. Finally, First Trust Advisors LP acquired a new position in shares of Echo Global Logistics in the first quarter worth $208,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What is a management fee?

Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.