Echo Global Logistics Inc. (NASDAQ:ECHO) shares saw unusually-high trading volume on Monday . Approximately 253,084 shares traded hands during trading, a decline of 5% from the previous session’s volume of 265,593 shares.The stock last traded at $23.05 and had previously closed at $23.08.

ECHO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Cowen and Company raised their price objective on shares of Echo Global Logistics from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, April 28th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Echo Global Logistics in a research report on Monday. They set an “overweight” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $30.10.

The stock has a market cap of $705.51 million and a P/E ratio of 143.62. The stock has a 50-day moving average price of $22.53 and a 200 day moving average price of $23.57.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, April 27th. The company reported $0.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.24. The firm earned $405 million during the quarter, compared to the consensus estimate of $409.89 million. During the same quarter in the previous year, the firm earned $0.15 EPS. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, equities analysts predict that Echo Global Logistics Inc. will post $1.24 earnings per share for the current year.

A number of hedge funds recently made changes to their positions in ECHO. California State Teachers Retirement System increased its stake in shares of Echo Global Logistics by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 54,906 shares of the company’s stock valued at $1,120,000 after buying an additional 1,000 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Echo Global Logistics by 4.6% in the fourth quarter. New York State Common Retirement Fund now owns 61,950 shares of the company’s stock valued at $1,263,000 after buying an additional 2,700 shares during the last quarter. Numeric Investors LLC increased its stake in shares of Echo Global Logistics by 27.0% in the fourth quarter. Numeric Investors LLC now owns 60,700 shares of the company’s stock valued at $1,238,000 after buying an additional 12,900 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Echo Global Logistics by 46.9% in the fourth quarter. Trexquant Investment LP now owns 59,800 shares of the company’s stock valued at $1,219,000 after buying an additional 19,100 shares during the last quarter. Finally, Russell Frank Co increased its stake in shares of Echo Global Logistics by 11.8% in the fourth quarter. Russell Frank Co now owns 302,835 shares of the company’s stock valued at $6,327,000 after buying an additional 32,077 shares during the last quarter.

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

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