Echo Global Logistics Inc. (ECHO) Trading Up 2.3%
Echo Global Logistics Inc. (NASDAQ:ECHO) shares were up 2.3% during trading on Wednesday . The stock traded as high as $26.17 and last traded at $26.10, with a volume of 282,576 shares traded. The stock had previously closed at $25.52.
Several research analysts have commented on ECHO shares. Zacks Investment Research cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. JPMorgan Chase & Co. started coverage on shares of Echo Global Logistics in a research report on Monday, July 11th. They issued an “overweight” rating and a $31.00 target price for the company. Cowen and Company decreased their target price on shares of Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Morgan Stanley decreased their target price on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.18.
The company’s 50 day moving average is $23.58 and its 200-day moving average is $24.14. The firm has a market capitalization of $764.89 million and a price-to-earnings ratio of 106.53.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $443.80 million for the quarter, compared to the consensus estimate of $439.56 million. During the same period last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts predict that Echo Global Logistics Inc. will post $1.21 EPS for the current year.
Other institutional investors have added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position 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 worth $1,263,000 after buying an additional 2,700 shares during the last quarter. Trexquant Investment LP increased 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. Finally, KDI Capital Partners LLC increased its position in shares of Echo Global Logistics by 1,252.1% in the fourth quarter. KDI Capital Partners LLC now owns 421,315 shares of the company’s stock valued at $8,591,000 after buying an additional 390,155 shares in 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.