Zacks Investment Research upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a research note released on Thursday. The firm currently has $27.00 price objective on the transportation company’s stock.
According to Zacks, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois. “
Other research analysts have also recently issued research reports about the company. Barrington Research lowered their price objective on Echo Global Logistics from $37.00 to $33.00 and set an outperform rating on the stock in a research report on Friday, October 26th. Cowen reduced their price objective on Echo Global Logistics from $42.00 to $40.00 and set an outperform rating on the stock in a research note on Thursday, October 25th. TheStreet lowered Echo Global Logistics from a b- rating to a c+ rating in a research note on Thursday, December 20th. UBS Group reduced their price objective on Echo Global Logistics from $31.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, October 25th. Finally, Loop Capital assumed coverage on Echo Global Logistics in a research note on Wednesday, October 17th. They issued a hold rating and a $30.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $30.90.
ECHO opened at $23.91 on Thursday. Echo Global Logistics has a 1-year low of $18.83 and a 1-year high of $36.75. The company has a current ratio of 1.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $682.57 million, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.89.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, February 6th. The transportation company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Echo Global Logistics had a return on equity of 12.01% and a net margin of 1.18%. The business had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $587.32 million. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts expect that Echo Global Logistics will post 1.61 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Echo Global Logistics by 4.5% in the fourth quarter. BlackRock Inc. now owns 4,466,859 shares of the transportation company’s stock valued at $90,812,000 after purchasing an additional 192,214 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Echo Global Logistics by 18.7% in the third quarter. Vanguard Group Inc. now owns 2,037,639 shares of the transportation company’s stock valued at $63,065,000 after buying an additional 320,525 shares during the period. Vanguard Group Inc raised its stake in shares of Echo Global Logistics by 18.7% in the third quarter. Vanguard Group Inc now owns 2,037,639 shares of the transportation company’s stock valued at $63,065,000 after buying an additional 320,525 shares during the period. Standard Life Aberdeen plc bought a new stake in shares of Echo Global Logistics in the third quarter valued at $42,950,000. Finally, Teachers Advisors LLC raised its stake in shares of Echo Global Logistics by 0.9% in the third quarter. Teachers Advisors LLC now owns 737,414 shares of the transportation company’s stock valued at $22,823,000 after buying an additional 6,939 shares during the period. Hedge funds and other institutional investors own 98.74% of the company’s stock.
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.
Further Reading: What is a back-end load?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.