Echo Global Logistics, Inc. (NASDAQ:ECHO) Receives $41.67 Average PT from Analysts

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $41.67.

Several research analysts have commented on the company. Truist Securities downgraded Echo Global Logistics from a “buy” rating to a “hold” rating and raised their price objective for the stock from $36.00 to $48.25 in a report on Monday, September 13th. Barrington Research cut Echo Global Logistics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 21st. Stifel Nicolaus downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $42.00 to $48.25 in a research note on Monday, September 13th. Truist lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating and lifted their target price for the company from $36.00 to $48.25 in a research report on Monday, September 13th. Finally, Zacks Investment Research lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Wednesday, October 6th.

Shares of NASDAQ ECHO traded down $0.02 during midday trading on Monday, hitting $48.02. The company’s stock had a trading volume of 3,563 shares, compared to its average volume of 301,953. Echo Global Logistics has a 12-month low of $25.23 and a 12-month high of $48.26. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.28 billion, a P/E ratio of 27.61 and a beta of 1.15. The business’s 50 day moving average is $39.62 and its two-hundred day moving average is $34.58.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, July 28th. The transportation company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.30. The firm had revenue of $934.50 million during the quarter, compared to analyst estimates of $862.26 million. Echo Global Logistics had a net margin of 1.46% and a return on equity of 13.45%. On average, analysts predict that Echo Global Logistics will post 2.4 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of ECHO. JPMorgan Chase & Co. lifted its stake in Echo Global Logistics by 40.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,067,437 shares of the transportation company’s stock worth $32,813,000 after acquiring an additional 307,491 shares in the last quarter. BlackRock Inc. raised its position in Echo Global Logistics by 2.7% in the 1st quarter. BlackRock Inc. now owns 5,242,705 shares of the transportation company’s stock valued at $164,673,000 after purchasing an additional 135,945 shares in the last quarter. Millennium Management LLC raised its position in Echo Global Logistics by 467.0% in the 1st quarter. Millennium Management LLC now owns 135,316 shares of the transportation company’s stock valued at $4,250,000 after purchasing an additional 111,451 shares in the last quarter. Invesco Ltd. raised its position in Echo Global Logistics by 48.2% in the 2nd quarter. Invesco Ltd. now owns 295,626 shares of the transportation company’s stock valued at $9,087,000 after purchasing an additional 96,175 shares in the last quarter. Finally, Morgan Stanley raised its position in Echo Global Logistics by 44.5% in the 2nd quarter. Morgan Stanley now owns 221,628 shares of the transportation company’s stock valued at $6,814,000 after purchasing an additional 68,215 shares in the last quarter. 91.02% of the stock is currently owned by hedge funds and other institutional investors.

About Echo Global Logistics

Echo Global Logistics, Inc engages in the provision of technology enabled transportation and supply chain management services. It offers truckload, small parcel, intermodal, domestic air and expedited services, and international transportation solutions. The company was founded by Bradley A. Keywell and Eric P.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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