Echo Global Logistics Inc. (NASDAQ:ECHO) – Barrington Research issued their Q3 2016 earnings per share (EPS) estimates for Echo Global Logistics in a research note issued to investors on Monday. Barrington Research analyst K. Steinke forecasts that the brokerage will post earnings of $0.28 per share for the quarter. Barrington Research also issued estimates for Echo Global Logistics’ Q4 2016 earnings at $0.28 EPS, FY2016 earnings at $0.87 EPS and FY2017 earnings at $1.21 EPS.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, July 27th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $443.80 million for the quarter, compared to analyst estimates of $439.56 million. Echo Global Logistics had a return on equity of 5.69% and a net margin of 0.43%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS.
Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. restated a “buy” rating and set a $31.00 target price on shares of Echo Global Logistics in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Cowen and Company decreased their target price on shares of Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Finally, Morgan Stanley decreased their target price on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.11.
Echo Global Logistics (NASDAQ:ECHO) opened at 22.71 on Thursday. The firm has a market cap of $665.54 million, a P/E ratio of 92.69 and a beta of 1.30. Echo Global Logistics has a 52 week low of $16.56 and a 52 week high of $28.49. The company’s 50 day moving average is $24.29 and its 200-day moving average is $24.14.
In other Echo Global Logistics news, CEO Douglas R. Waggoner sold 34,723 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $26.01, for a total transaction of $903,145.23. Following the transaction, the chief executive officer now owns 241,863 shares of the company’s stock, valued at $6,290,856.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO David B. Menzel sold 15,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $25.89, for a total transaction of $388,350.00. Following the transaction, the chief operating officer now directly owns 147,030 shares in the company, valued at approximately $3,806,606.70. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in shares of Echo Global Logistics during the second quarter worth approximately $12,623,000. Elk Creek Partners LLC acquired a new position in shares of Echo Global Logistics during the second quarter worth approximately $3,210,000. Waddell & Reed Financial Inc. increased its position in shares of Echo Global Logistics by 143.8% in the second quarter. Waddell & Reed Financial Inc. now owns 455,600 shares of the company’s stock worth $10,214,000 after buying an additional 268,700 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new position in shares of Echo Global Logistics during the second quarter worth approximately $3,547,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Echo Global Logistics by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,175,310 shares of the company’s stock worth $26,350,000 after buying an additional 132,781 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.
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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