Echo Global Logistics (ECHO) Cut to Sell at BidaskClub

Echo Global Logistics (NASDAQ:ECHO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. TheStreet cut shares of Echo Global Logistics from a “b” rating to a “c+” rating in a research note on Wednesday, April 24th. Cowen reiterated a “buy” rating and set a $33.00 price target on shares of Echo Global Logistics in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Credit Suisse Group decreased their price target on shares of Echo Global Logistics from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, January 15th. Finally, Morgan Stanley upgraded shares of Echo Global Logistics from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $25.00 in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Echo Global Logistics currently has a consensus rating of “Hold” and a consensus price target of $29.71.

Shares of NASDAQ:ECHO opened at $21.71 on Tuesday. The firm has a market cap of $597.00 million, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.98. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.46. Echo Global Logistics has a 1-year low of $18.83 and a 1-year high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $538.10 million during the quarter, compared to analysts’ expectations of $549.32 million. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. Echo Global Logistics’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. As a group, research analysts expect that Echo Global Logistics will post 1.51 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Echo Global Logistics by 4.5% during the 4th quarter. BlackRock Inc. now owns 4,466,859 shares of the transportation company’s stock worth $90,812,000 after buying an additional 192,214 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Echo Global Logistics by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,387,516 shares of the transportation company’s stock worth $59,162,000 after buying an additional 9,747 shares during the last quarter. Vanguard Group Inc raised its position in Echo Global Logistics by 18.7% during the 3rd quarter. Vanguard Group Inc now owns 2,037,639 shares of the transportation company’s stock worth $63,065,000 after buying an additional 320,525 shares during the last quarter. Vanguard Group Inc. raised its position in Echo Global Logistics by 18.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,037,639 shares of the transportation company’s stock worth $63,065,000 after buying an additional 320,525 shares during the last quarter. Finally, Standard Life Aberdeen plc raised its position in Echo Global Logistics by 34.3% during the 4th quarter. Standard Life Aberdeen plc now owns 1,862,435 shares of the transportation company’s stock worth $37,323,000 after buying an additional 475,837 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

About Echo Global Logistics

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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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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