Echo Global Logistics (NASDAQ:ECHO) Rating Lowered to Hold at Truist Financial

Echo Global Logistics (NASDAQ:ECHO) was downgraded by Truist Financial to a “hold” rating in a research note issued on Monday, TipRanks reports. They presently have a $48.30 target price on the transportation company’s stock. Truist Financial’s target price points to a potential upside of 1.02% from the stock’s previous close.

Several other equities analysts have also commented on ECHO. Truist Securities lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating and upped their price target for the stock from $36.00 to $48.25 in a research report on Monday. Stephens increased their target price on shares of Echo Global Logistics from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Stifel Nicolaus lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating and increased their target price for the company from $42.00 to $48.25 in a research report on Monday. Truist lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating and increased their target price for the company from $36.00 to $48.25 in a research report on Monday. Finally, Morgan Stanley increased their target price on shares of Echo Global Logistics from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, August 2nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Echo Global Logistics currently has an average rating of “Hold” and an average price target of $40.37.

Echo Global Logistics stock opened at $47.81 on Monday. The company has a 50-day simple moving average of $31.64 and a 200-day simple moving average of $32.09. The firm has a market capitalization of $1.27 billion, a P/E ratio of 27.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28. Echo Global Logistics has a one year low of $25.00 and a one year high of $48.26.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, July 28th. The transportation company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.54 by $0.30. The business had revenue of $934.50 million during the quarter, compared to analyst estimates of $862.26 million. Echo Global Logistics had a net margin of 1.46% and a return on equity of 13.45%. As a group, sell-side analysts forecast that Echo Global Logistics will post 2.4 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Echo Global Logistics by 2.7% in the 1st quarter. BlackRock Inc. now owns 5,242,705 shares of the transportation company’s stock valued at $164,673,000 after acquiring an additional 135,945 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Echo Global Logistics by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,865,993 shares of the transportation company’s stock valued at $57,361,000 after acquiring an additional 40,294 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Echo Global Logistics by 40.5% during the second quarter. JPMorgan Chase & Co. now owns 1,067,437 shares of the transportation company’s stock valued at $32,813,000 after buying an additional 307,491 shares in the last quarter. State Street Corp lifted its stake in Echo Global Logistics by 3.2% during the second quarter. State Street Corp now owns 1,052,035 shares of the transportation company’s stock valued at $32,340,000 after buying an additional 32,497 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Echo Global Logistics by 1.1% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 615,098 shares of the transportation company’s stock valued at $18,908,000 after buying an additional 6,800 shares in the last quarter. 91.02% of the stock is owned by institutional investors.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc engages in the provision of technology enabled transportation and supply chain management services. It offers truckload, small parcel, intermodal, domestic air and expedited services, and international transportation solutions. The company was founded by Bradley A. Keywell and Eric P.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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