Stifel Nicolaus reiterated their buy rating on shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in a research report released on Wednesday.

Several other research analysts have also commented on the company. Macquarie reiterated an outperform rating and issued a $29.00 target price on shares of Echo Global Logistics in a research report on Monday, July 10th. Zacks Investment Research upgraded Echo Global Logistics from a sell rating to a hold rating in a research report on Wednesday, June 28th. Cowen and Company reduced their price objective on Echo Global Logistics from $25.00 to $23.00 and set an outperform rating for the company in a research report on Thursday, April 27th. Susquehanna Bancshares Inc upgraded Echo Global Logistics from a neutral rating to a positive rating in a research report on Thursday, April 13th. Finally, UBS AG upgraded Echo Global Logistics from a neutral rating to a positive rating in a research report on Thursday, April 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Echo Global Logistics has a consensus rating of Buy and an average target price of $28.14.

Shares of Echo Global Logistics (ECHO) traded down 1.203% during midday trading on Wednesday, reaching $18.475. The company’s stock had a trading volume of 639,706 shares. The company’s 50-day moving average price is $19.50 and its 200 day moving average price is $21.05. The firm’s market capitalization is $538.47 million. Echo Global Logistics has a 1-year low of $17.90 and a 1-year high of $28.90.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, April 26th. The transportation company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. The firm had revenue of $415.80 million during the quarter, compared to analyst estimates of $417.30 million. Echo Global Logistics had a positive return on equity of 3.65% and a negative net margin of 0.09%. Echo Global Logistics’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. On average, equities research analysts forecast that Echo Global Logistics will post $0.83 earnings per share for the current year.

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Echo Global Logistics announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 1st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the transportation company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, COO David B. Menzel sold 10,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $19.48, for a total value of $194,800.00. Following the sale, the chief operating officer now owns 163,141 shares of the company’s stock, valued at approximately $3,177,986.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of ECHO. SG Americas Securities LLC increased its stake in Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after buying an additional 70 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Echo Global Logistics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the transportation company’s stock worth $237,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in Echo Global Logistics by 0.7% in the first quarter. Arizona State Retirement System now owns 14,264 shares of the transportation company’s stock worth $305,000 after buying an additional 100 shares in the last quarter. Mason Street Advisors LLC increased its stake in Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock worth $136,000 after buying an additional 388 shares in the last quarter. Finally, Atria Investments LLC increased its stake in Echo Global Logistics by 5.0% in the first quarter. Atria Investments LLC now owns 10,461 shares of the transportation company’s stock worth $223,000 after buying an additional 496 shares in the last quarter. 89.80% of the stock is currently owned by institutional investors.

Echo Global Logistics Company Profile

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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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