Echo Global Logistics (NASDAQ:ECHO) Stock Rating Lowered by BidaskClub

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BidaskClub cut shares of Echo Global Logistics (NASDAQ:ECHO) from a buy rating to a hold rating in a research note published on Friday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Echo Global Logistics from a hold rating to a sell rating in a report on Tuesday, October 22nd. Credit Suisse Group increased their target price on Echo Global Logistics from $21.00 to $22.00 and gave the stock a neutral rating in a report on Thursday, October 24th. UBS Group set a $23.00 target price on Echo Global Logistics and gave the stock a hold rating in a report on Friday, July 26th. Barrington Research reiterated a buy rating and issued a $27.00 target price on shares of Echo Global Logistics in a report on Monday, October 28th. Finally, Cowen cut their target price on Echo Global Logistics from $30.00 to $29.00 and set an outperform rating on the stock in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $25.40.

Shares of ECHO stock traded down $0.27 during trading hours on Friday, hitting $20.03. 4,150 shares of the company were exchanged, compared to its average volume of 221,789. The firm has a market cap of $563.09 million, a P/E ratio of 12.36, a P/E/G ratio of 1.00 and a beta of 1.91. Echo Global Logistics has a fifty-two week low of $18.00 and a fifty-two week high of $25.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.39 and a current ratio of 1.39. The company has a 50 day simple moving average of $21.87 and a two-hundred day simple moving average of $21.01.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Echo Global Logistics had a return on equity of 9.70% and a net margin of 0.91%. The company had revenue of $561.44 million for the quarter, compared to analysts’ expectations of $548.10 million. During the same period last year, the business earned $0.55 EPS. Echo Global Logistics’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Echo Global Logistics will post 1.18 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of ECHO. First Trust Advisors LP bought a new stake in shares of Echo Global Logistics during the 1st quarter worth $208,000. Taylor Frigon Capital Management LLC increased its holdings in Echo Global Logistics by 11.4% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 85,204 shares of the transportation company’s stock worth $1,778,000 after acquiring an additional 8,747 shares during the last quarter. Summit Creek Advisors LLC increased its holdings in Echo Global Logistics by 0.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 338,530 shares of the transportation company’s stock worth $7,065,000 after acquiring an additional 910 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in Echo Global Logistics in the 2nd quarter worth about $119,000. Finally, Stephens Investment Management Group LLC increased its holdings in Echo Global Logistics by 3.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 471,323 shares of the transportation company’s stock worth $9,837,000 after acquiring an additional 14,292 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

Echo Global Logistics Company Profile

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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