Echo Global Logistics Inc. (ECHO) Shares Up 3%
Shares of Echo Global Logistics Inc. (NASDAQ:ECHO) shot up 3% during mid-day trading on Thursday . The stock traded as high as $25.89 and last traded at $24.98, with a volume of 263,177 shares changing hands. The stock had previously closed at $24.25.
Several brokerages have issued reports on ECHO. Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Morgan Stanley dropped 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. Cowen and Company upped 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, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $31.00 price target on shares of Echo Global Logistics in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Echo Global Logistics currently has an average rating of “Buy” and a consensus target price of $30.18.
The firm has a market capitalization of $682.93 million and a PE ratio of 103.17. The stock has a 50 day moving average price of $23.05 and a 200 day moving average price of $23.84.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 27th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.04. During the same period last year, the business earned $0.30 earnings per share. The company earned $443.80 million during the quarter, compared to analysts’ expectations of $439.56 million. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities analysts anticipate that Echo Global Logistics Inc. will post $1.20 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position 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 in the last quarter. Trexquant Investment LP boosted its position 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 in the last quarter. New York State Common Retirement Fund boosted its position 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 in the last quarter. Finally, Whitebox Advisors LLC bought a new position in shares of Echo Global Logistics during the fourth quarter valued at $1,713,000.
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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