Geode Capital Management LLC increased its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 314,562 shares of the transportation company’s stock after buying an additional 40,677 shares during the period. Geode Capital Management LLC owned 1.10% of Echo Global Logistics worth $6,395,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in Echo Global Logistics in the fourth quarter worth approximately $41,000. Oppenheimer Asset Management Inc. acquired a new position in Echo Global Logistics in the fourth quarter worth approximately $93,000. NumerixS Investment Technologies Inc increased its holdings in Echo Global Logistics by 148.4% in the fourth quarter. NumerixS Investment Technologies Inc now owns 4,720 shares of the transportation company’s stock worth $95,000 after buying an additional 2,820 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Echo Global Logistics by 8.4% in the fourth quarter. State of Alaska Department of Revenue now owns 9,526 shares of the transportation company’s stock worth $193,000 after buying an additional 735 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in Echo Global Logistics in the fourth quarter worth approximately $221,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.
Shares of ECHO stock opened at $25.36 on Friday. Echo Global Logistics, Inc. has a 12 month low of $18.83 and a 12 month high of $36.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $705.46 million, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.89 and a beta of 2.05.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, February 6th. The transportation company reported $0.47 EPS for the quarter, beating the consensus estimate 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 company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $587.32 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Echo Global Logistics, Inc. will post 1.6 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, January 31st. Morgan Stanley upgraded Echo Global Logistics from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $25.00 in a report on Tuesday, March 5th. Susquehanna Bancshares downgraded Echo Global Logistics from a “positive” rating to a “neutral” rating in a report on Wednesday, April 10th. BidaskClub upgraded Echo Global Logistics from a “strong sell” rating to a “sell” rating in a report on Saturday, March 9th. Finally, Cowen reiterated a “buy” rating and set a $35.00 price target on shares of Echo Global Logistics in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Echo Global Logistics has an average rating of “Hold” and a consensus price target of $30.64.
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Echo Global Logistics 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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