Stifel Nicolaus downgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a buy rating to a hold rating in a research report released on Monday morning, The Fly reports. Stifel Nicolaus currently has $48.25 target price on the transportation company’s stock, up from their previous target price of $42.00.
Several other brokerages also recently commented on ECHO. Truist Securities downgraded Echo Global Logistics from a buy rating to a hold rating and lifted their target price for the stock from $36.00 to $48.25 in a report on Monday. Morgan Stanley lifted their target price on Echo Global Logistics from $29.00 to $30.00 and gave the stock an equal weight rating in a report on Monday, August 2nd. Finally, Stephens lifted their target price on Echo Global Logistics from $42.00 to $45.00 and gave the stock an overweight rating in a report on Thursday, July 29th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $40.37.
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Shares of ECHO stock opened at $47.90 on Monday. The stock’s fifty day moving average price is $31.26 and its two-hundred day moving average price is $31.95. The company has a market cap of $1.28 billion, a PE ratio of 27.53 and a beta of 1.15. Echo Global Logistics has a fifty-two week low of $25.00 and a fifty-two week high of $48.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, July 28th. The transportation company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.30. Echo Global Logistics had a return on equity of 13.45% and a net margin of 1.46%. The company had revenue of $934.50 million for the quarter, compared to the consensus estimate of $862.26 million. On average, equities analysts predict that Echo Global Logistics will post 2.4 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of ECHO. First Trust Advisors LP bought a new stake in Echo Global Logistics during the 1st quarter worth approximately $208,000. Victory Capital Management Inc. boosted its stake in shares of Echo Global Logistics by 65.1% in the 1st quarter. Victory Capital Management Inc. now owns 156,333 shares of the transportation company’s stock worth $4,911,000 after buying an additional 61,653 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Echo Global Logistics by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,787 shares of the transportation company’s stock worth $370,000 after buying an additional 870 shares during the last quarter. Professional Financial Advisors LLC purchased a new position in shares of Echo Global Logistics in the 1st quarter worth approximately $378,000. Finally, Seizert Capital Partners LLC boosted its stake in shares of Echo Global Logistics by 49.6% in the 1st quarter. Seizert Capital Partners LLC now owns 94,782 shares of the transportation company’s stock worth $2,977,000 after buying an additional 31,413 shares during the last quarter. 91.02% of the stock is owned by hedge funds and other institutional investors.
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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