Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 31.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,798 shares of the transportation company’s stock after selling 828 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Echo Global Logistics were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ECHO. Convergence Investment Partners LLC bought a new stake in Echo Global Logistics in the 2nd quarter valued at about $119,000. BNP Paribas Arbitrage SA increased its position in Echo Global Logistics by 1,316.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,823 shares of the transportation company’s stock valued at $144,000 after buying an additional 5,412 shares in the last quarter. Bailard Inc. bought a new stake in Echo Global Logistics during the 1st quarter worth approximately $201,000. Greytown Advisors Inc. bought a new stake in Echo Global Logistics during the 1st quarter worth approximately $202,000. Finally, NumerixS Investment Technologies Inc increased its holdings in Echo Global Logistics by 78.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 8,440 shares of the transportation company’s stock worth $206,000 after purchasing an additional 3,720 shares in the last quarter. 96.17% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the company. BidaskClub raised Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. Zacks Investment Research lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, July 29th. ValuEngine raised Echo Global Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Cowen reissued an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of Echo Global Logistics in a report on Thursday, July 25th. Finally, Morgan Stanley set a $23.00 price objective on Echo Global Logistics and gave the stock a “hold” rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Echo Global Logistics presently has a consensus rating of “Hold” and a consensus target price of $25.44.

Shares of ECHO stock traded down $0.49 during trading on Friday, hitting $19.18. The company’s stock had a trading volume of 2,401 shares, compared to its average volume of 279,424. The company has a market cap of $534.46 million, a PE ratio of 11.73, a P/E/G ratio of 0.89 and a beta of 2.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $20.02 and a 200-day moving average of $22.19. Echo Global Logistics, Inc. has a 52 week low of $18.00 and a 52 week high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $553.78 million during the quarter, compared to the consensus estimate of $572.60 million. Echo Global Logistics had a net margin of 1.07% and a return on equity of 11.03%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, research analysts predict that Echo Global Logistics, Inc. will post 1.26 EPS for the current year.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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