Echo Global Logistics (ECHO) Receiving Somewhat Favorable News Coverage, Accern Reports
Press coverage about Echo Global Logistics (NASDAQ:ECHO) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Echo Global Logistics earned a coverage optimism score of 0.05 on Accern’s scale. Accern also assigned news stories about the transportation company an impact score of 46.364062028019 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:
- Echo Global Logi Down 24.4% Since SmarTrend Downtrend Call (ECHO) (mysmartrend.com)
- Critical Review: Echo Global Logistics (NASDAQ:ECHO) & Core-Mark Holding (CORE) (americanbankingnews.com)
- 13G Filing: Luminus Management and Echo Global Logistics Inc. (ECHO) (insidermonkey.com)
- Reviewing Core-Mark Holding (CORE) & Echo Global Logistics (NASDAQ:ECHO) (americanbankingnews.com)
- Echo Global Logistics, Inc. (NASDAQ:ECHO) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
A number of equities research analysts recently issued reports on ECHO shares. BidaskClub cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Macquarie reiterated an “outperform” rating and issued a $29.00 price objective on shares of Echo Global Logistics in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Credit Suisse Group cut shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $14.00 in a report on Monday, July 31st. Finally, Barrington Research decreased their price objective on shares of Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.14.
Echo Global Logistics (NASDAQ:ECHO) traded down 1.07% during midday trading on Friday, reaching $13.90. 502,213 shares of the company’s stock were exchanged. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $28.90. The firm has a 50-day moving average price of $17.56 and a 200 day moving average price of $19.99. The company’s market cap is $396.62 million.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.02. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The firm had revenue of $470.10 million during the quarter, compared to the consensus estimate of $470.25 million. During the same period last year, the business earned $0.33 EPS. The business’s revenue was up 5.9% on a year-over-year basis. Analysts anticipate that Echo Global Logistics will post $0.59 EPS for the current year.
Echo Global Logistics declared that its Board of Directors has approved a share repurchase plan on Monday, May 1st that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the transportation company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, COO David B. Menzel sold 10,000 shares of Echo Global Logistics stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $19.48, for a total value of $194,800.00. Following the completion of the transaction, the chief operating officer now owns 163,141 shares of the company’s stock, valued at approximately $3,177,986.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.
About Echo Global Logistics
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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