Echo Global Logistics, Inc. (NASDAQ:ECHO)‘s stock had its “outperform” rating restated by Macquarie in a research report issued on Monday. They presently have a $29.00 price objective on the transportation company’s stock. Macquarie’s price objective indicates a potential upside of 44.28% from the company’s previous close.
A number of other analysts also recently weighed in on ECHO. Susquehanna Bancshares Inc upgraded Echo Global Logistics from a “neutral” rating to a “positive” rating in a research report on Thursday, April 13th. Cowen and Company dropped their price objective on Echo Global Logistics from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, April 27th. Finally, Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.83.
Shares of Echo Global Logistics (NASDAQ ECHO) traded down 3.109% on Monday, reaching $19.475. The company had a trading volume of 58,635 shares. Echo Global Logistics has a 52-week low of $17.90 and a 52-week high of $28.90. The firm’s market capitalization is $567.62 million. The company’s 50-day moving average price is $19.19 and its 200-day moving average price is $21.72.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. Echo Global Logistics had a negative net margin of 0.09% and a positive return on equity of 3.65%. The firm had revenue of $415.80 million during the quarter, compared to analyst estimates of $417.30 million. During the same period in the prior year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Echo Global Logistics will post $0.86 earnings per share for the current year.
In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $19.48, for a total value of $194,800.00. Following the completion of the transaction, the chief operating officer now directly owns 163,141 shares in the company, valued at $3,177,986.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after buying an additional 70 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Echo Global Logistics during the first quarter valued at approximately $121,000. Mason Street Advisors LLC increased its position in Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock valued at $136,000 after buying an additional 388 shares in the last quarter. Atria Investments LLC increased its position in Echo Global Logistics by 5.0% in the first quarter. Atria Investments LLC now owns 10,461 shares of the transportation company’s stock valued at $223,000 after buying an additional 496 shares in the last quarter. Finally, Nicolet Bankshares Inc. increased its position in Echo Global Logistics by 6.4% in the first quarter. Nicolet Bankshares Inc. now owns 10,855 shares of the transportation company’s stock valued at $232,000 after buying an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.
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