Echo Global Logistics, Inc. (NASDAQ:ECHO) has been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.33.
A number of research analysts have issued reports on ECHO shares. Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Thursday, November 1st. Loop Capital upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Monday, October 29th. Barrington Research restated a “buy” rating and issued a $37.00 price objective on shares of Echo Global Logistics in a research note on Wednesday, October 24th. SunTrust Banks started coverage on Echo Global Logistics in a research note on Wednesday, December 12th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, TheStreet downgraded Echo Global Logistics from a “b-” rating to a “c+” rating in a research note on Thursday, December 20th.
Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in Echo Global Logistics in the 4th quarter worth about $41,000. Oppenheimer Asset Management Inc. bought a new position in Echo Global Logistics in the 4th quarter worth about $93,000. State of Alaska Department of Revenue boosted its stake in Echo Global Logistics by 8.4% in the 4th quarter. State of Alaska Department of Revenue now owns 9,526 shares of the transportation company’s stock worth $193,000 after purchasing an additional 735 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Echo Global Logistics in the 3rd quarter worth about $211,000. Finally, First Trust Advisors LP bought a new position in Echo Global Logistics in the 3rd quarter worth about $213,000. Institutional investors own 98.74% of the company’s stock.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, February 6th. The transportation company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $583.00 million during the quarter, compared to analyst estimates of $587.32 million. Echo Global Logistics had a return on equity of 12.01% and a net margin of 1.18%. Echo Global Logistics’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, sell-side analysts predict that Echo Global Logistics will post 1.61 EPS for the current fiscal year.
About Echo Global Logistics
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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