Stephens Upgrades Echo Global Logistics (NASDAQ:ECHO) to “Overweight”

Echo Global Logistics (NASDAQ:ECHO) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a $25.00 price target on the transportation company’s stock, up from their previous price target of $20.00. Stephens’ target price would indicate a potential upside of 30.01% from the company’s previous close.

ECHO has been the topic of several other research reports. Morgan Stanley decreased their target price on Echo Global Logistics from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their target price on Echo Global Logistics from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Credit Suisse Group decreased their price target on Echo Global Logistics from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Barrington Research decreased their price target on Echo Global Logistics from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Finally, Loop Capital upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and raised their price target for the company from $18.00 to $22.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Echo Global Logistics presently has an average rating of “Hold” and a consensus target price of $21.70.

Shares of ECHO stock traded up $0.51 during trading hours on Thursday, hitting $19.23. 191,249 shares of the company’s stock were exchanged, compared to its average volume of 250,453. The stock’s 50-day moving average is $16.96 and its 200-day moving average is $19.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $498.23 million, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. Echo Global Logistics has a 52 week low of $14.17 and a 52 week high of $24.50.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $551.00 million for the quarter, compared to analysts’ expectations of $550.89 million. Echo Global Logistics had a return on equity of 6.57% and a net margin of 0.38%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Equities research analysts forecast that Echo Global Logistics will post 0.43 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment Corp IL bought a new position in Echo Global Logistics during the fourth quarter worth about $300,000. Charles Schwab Investment Management Inc. boosted its holdings in Echo Global Logistics by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,543 shares of the transportation company’s stock worth $7,215,000 after buying an additional 18,767 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Echo Global Logistics by 32.6% during the fourth quarter. Prudential Financial Inc. now owns 58,271 shares of the transportation company’s stock worth $1,206,000 after buying an additional 14,334 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Echo Global Logistics by 12.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 723,194 shares of the transportation company’s stock worth $14,970,000 after buying an additional 82,574 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Echo Global Logistics during the fourth quarter worth about $1,016,000. Hedge funds and other institutional investors own 98.62% 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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