Echo Global Logistics Inc. (ECHO) Trading Up 3%
Echo Global Logistics Inc. (NASDAQ:ECHO) was up 3% during trading on Thursday . The stock traded as high as $25.89 and last traded at $24.98, with a volume of 263,177 shares traded. The stock had previously closed at $24.25.
Several equities research analysts recently commented on ECHO shares. Zacks Investment Research lowered shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. JPMorgan Chase & Co. started coverage on shares of Echo Global Logistics in a research note on Monday, July 11th. They set an “overweight” rating and a $31.00 price target on the stock. Cowen and Company lifted their price target on shares of Echo Global Logistics from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 28th. Finally, Morgan Stanley cut their price target on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.18.
The stock has a 50-day moving average price of $23.01 and a 200 day moving average price of $23.81. The stock has a market cap of $747.40 million and a price-to-earnings ratio of 152.15.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.04. The company earned $443.80 million during the quarter, compared to analyst estimates of $439.56 million. Echo Global Logistics’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Equities research analysts predict that Echo Global Logistics Inc. will post $1.23 EPS for the current year.
Other large investors recently modified their holdings of the company. 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 worth $6,327,000 after buying an additional 32,077 shares in the last quarter. California State Teachers Retirement System boosted its stake in 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 boosted its stake in 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. Whitebox Advisors LLC acquired a new stake in Echo Global Logistics during the fourth quarter valued at $1,713,000. Finally, Trexquant Investment LP boosted its stake in 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.
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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