Echo Global Logistics (NASDAQ:ECHO) Upgraded at BidaskClub

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BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other research firms also recently commented on ECHO. Morgan Stanley set a $23.00 target price on shares of Echo Global Logistics and gave the stock a hold rating in a research report on Monday, July 8th. ValuEngine upgraded shares of Echo Global Logistics from a strong sell rating to a sell rating in a report on Thursday, August 1st. UBS Group set a $23.00 price target on shares of Echo Global Logistics and gave the company a hold rating in a report on Friday, July 26th. Stephens cut shares of Echo Global Logistics from an overweight rating to an equal weight rating and set a $26.00 price target for the company. in a report on Monday, July 1st. Finally, Loop Capital cut shares of Echo Global Logistics from a buy rating to a hold rating and decreased their price target for the company from $30.00 to $22.00 in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Echo Global Logistics has an average rating of Hold and a consensus price target of $25.44.

Echo Global Logistics stock opened at $23.35 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $643.59 million, a price-to-earnings ratio of 14.41, a PEG ratio of 1.07 and a beta of 1.95. Echo Global Logistics has a one year low of $18.00 and a one year high of $36.50. The company’s fifty day moving average price is $20.53 and its two-hundred day moving average price is $21.69.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The business had revenue of $553.78 million for the quarter, compared to analyst estimates of $572.60 million. Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Echo Global Logistics will post 1.26 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Echo Global Logistics by 0.7% during the second quarter. BlackRock Inc. now owns 4,332,605 shares of the transportation company’s stock valued at $90,421,000 after acquiring an additional 30,187 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Echo Global Logistics by 18.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 471,904 shares of the transportation company’s stock valued at $9,849,000 after buying an additional 72,577 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Echo Global Logistics by 3.1% in the second quarter. Stephens Investment Management Group LLC now owns 471,323 shares of the transportation company’s stock valued at $9,837,000 after buying an additional 14,292 shares during the period. AMI Asset Management Corp lifted its stake in shares of Echo Global Logistics by 21.5% in the second quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock valued at $9,527,000 after buying an additional 80,747 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Echo Global Logistics by 45.8% in the first quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock valued at $9,349,000 after buying an additional 118,550 shares during the period. Institutional investors own 97.46% 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 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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