Echo Global Logistics, Inc. (NASDAQ:ECHO) Receives $41.67 Consensus Target Price from Brokerages

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.67.

ECHO has been the topic of several research analyst reports. Barrington Research cut shares of Echo Global Logistics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 21st. Morgan Stanley increased their price target on shares of Echo Global Logistics from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Truist Securities cut shares of Echo Global Logistics from a “buy” rating to a “hold” rating and increased their price target for the stock from $36.00 to $48.25 in a research report on Monday, September 13th. Zacks Investment Research cut shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Wednesday, October 6th. Finally, Truist Financial cut shares of Echo Global Logistics to a “hold” rating and set a $48.30 target price on the stock. in a report on Monday, September 13th.

NASDAQ:ECHO traded down $0.02 on Monday, reaching $48.02. The stock had a trading volume of 3,563 shares, compared to its average volume of 301,953. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $39.62 and a 200 day moving average of $34.58. The stock has a market cap of $1.28 billion, a P/E ratio of 27.61 and a beta of 1.15. Echo Global Logistics has a 12-month low of $25.23 and a 12-month high of $48.26.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Wednesday, July 28th. The transportation company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.30. Echo Global Logistics had a net margin of 1.46% and a return on equity of 13.45%. The company had revenue of $934.50 million during the quarter, compared to analysts’ expectations of $862.26 million. On average, equities analysts predict that Echo Global Logistics will post 2.4 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Inc. AR increased its stake in shares of Echo Global Logistics by 9.9% during the second quarter. Stephens Inc. AR now owns 3,903 shares of the transportation company’s stock valued at $120,000 after acquiring an additional 352 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Echo Global Logistics by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,312 shares of the transportation company’s stock valued at $471,000 after acquiring an additional 356 shares during the period. Stifel Financial Corp grew its position in Echo Global Logistics by 0.7% in the second quarter. Stifel Financial Corp now owns 61,748 shares of the transportation company’s stock worth $1,899,000 after buying an additional 413 shares during the last quarter. State of Alaska Department of Revenue grew its position in Echo Global Logistics by 2.3% in the second quarter. State of Alaska Department of Revenue now owns 18,424 shares of the transportation company’s stock worth $566,000 after buying an additional 416 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Echo Global Logistics by 6.7% in the third quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the transportation company’s stock worth $611,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc engages in the provision of technology enabled transportation and supply chain management services. It offers truckload, small parcel, intermodal, domestic air and expedited services, and international transportation solutions. The company was founded by Bradley A. Keywell and Eric P.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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