Echo Global Logistics (NASDAQ:ECHO) had its target price reduced by Barrington Research from $37.00 to $33.00 in a research note issued to investors on Friday. Barrington Research currently has an outperform rating on the transportation company’s stock.

A number of other research analysts have also issued reports on the company. BidaskClub lowered Echo Global Logistics from a buy rating to a hold rating in a report on Thursday, August 9th. ValuEngine lowered Echo Global Logistics from a buy rating to a hold rating in a report on Thursday, September 27th. Zacks Investment Research lowered Echo Global Logistics from a strong-buy rating to a hold rating in a report on Wednesday, September 26th. Morgan Stanley lifted their target price on Echo Global Logistics from $22.00 to $23.00 and gave the company an underweight rating in a report on Tuesday, October 9th. Finally, Credit Suisse Group lifted their price target on Echo Global Logistics from $31.00 to $32.00 and gave the stock a neutral rating in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $33.30.

NASDAQ:ECHO opened at $25.00 on Friday. The firm has a market capitalization of $713.70 million, a P/E ratio of 37.88, a P/E/G ratio of 1.01 and a beta of 1.61. Echo Global Logistics has a 12-month low of $23.00 and a 12-month high of $36.75. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.55.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. The firm had revenue of $644.82 million during the quarter, compared to analyst estimates of $632.54 million. Echo Global Logistics had a return on equity of 11.25% and a net margin of 1.46%. Equities research analysts predict that Echo Global Logistics will post 1.42 earnings per share for the current year.

In other Echo Global Logistics news, COO David B. Menzel sold 20,000 shares of Echo Global Logistics stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $34.13, for a total transaction of $682,600.00. Following the completion of the sale, the chief operating officer now directly owns 147,334 shares of the company’s stock, valued at approximately $5,028,509.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas R. Waggoner sold 5,000 shares of Echo Global Logistics stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total value of $165,150.00. Following the sale, the chief executive officer now directly owns 311,532 shares of the company’s stock, valued at $10,289,901.96. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $1,048,690 over the last ninety days. 3.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC lifted its holdings in Echo Global Logistics by 20.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 13,053 shares of the transportation company’s stock worth $382,000 after buying an additional 2,256 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of Echo Global Logistics by 5.3% during the second quarter. Pinebridge Investments L.P. now owns 46,078 shares of the transportation company’s stock worth $1,348,000 after purchasing an additional 2,335 shares in the last quarter. Rhumbline Advisers increased its position in shares of Echo Global Logistics by 3.7% during the second quarter. Rhumbline Advisers now owns 65,984 shares of the transportation company’s stock worth $1,930,000 after purchasing an additional 2,376 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Echo Global Logistics by 27.3% during the second quarter. First Republic Investment Management Inc. now owns 11,176 shares of the transportation company’s stock worth $327,000 after purchasing an additional 2,394 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Echo Global Logistics by 7.0% during the second quarter. California Public Employees Retirement System now owns 37,881 shares of the transportation company’s stock worth $1,108,000 after purchasing an additional 2,481 shares in the last quarter. 98.99% of the stock is owned by institutional investors.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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