Analysts Set Echo Global Logistics, Inc. (ECHO) PT at $29.93

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Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $29.93.

A number of equities research analysts have weighed in on the stock. TheStreet upgraded shares of Echo Global Logistics from a “c+” rating to a “b” rating in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, February 7th. Cowen reiterated a “buy” rating and set a $35.00 target price on shares of Echo Global Logistics in a research note on Monday, April 8th. Morgan Stanley upgraded shares of Echo Global Logistics from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $22.00 to $25.00 in a research note on Tuesday, March 5th. Finally, BidaskClub upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, March 29th.

Several hedge funds have recently modified their holdings of ECHO. Prospect Capital Advisors LLC purchased a new stake in Echo Global Logistics in the 1st quarter worth about $3,152,000. Pinebridge Investments L.P. raised its position in Echo Global Logistics by 4.0% in the 1st quarter. Pinebridge Investments L.P. now owns 33,190 shares of the transportation company’s stock worth $823,000 after purchasing an additional 1,286 shares during the period. Geode Capital Management LLC raised its position in Echo Global Logistics by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 338,098 shares of the transportation company’s stock worth $8,378,000 after purchasing an additional 23,536 shares during the period. Charles Schwab Investment Management Inc. raised its position in Echo Global Logistics by 17.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 399,327 shares of the transportation company’s stock worth $9,896,000 after purchasing an additional 58,054 shares during the period. Finally, Greytown Advisors Inc. purchased a new stake in Echo Global Logistics in the 1st quarter worth about $202,000. 98.46% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ECHO traded down $0.09 during mid-day trading on Monday, reaching $20.86. The stock had a trading volume of 448,934 shares, compared to its average volume of 316,122. Echo Global Logistics has a 1 year low of $18.83 and a 1 year high of $36.75. The firm has a market cap of $581.93 million, a P/E ratio of 12.88, a PEG ratio of 0.79 and a beta of 1.98. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.55.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. The company had revenue of $538.10 million during the quarter, compared to analyst estimates of $549.32 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts expect that Echo Global Logistics will post 1.51 earnings per share 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 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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