BidaskClub Lowers Echo Global Logistics (ECHO) to Sell

BidaskClub downgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a hold rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

Several other research analysts have also commented on ECHO. Credit Suisse Group reduced their price target on Echo Global Logistics from $29.00 to $24.00 and set a neutral rating for the company in a research report on Tuesday, January 15th. Zacks Investment Research lowered Echo Global Logistics from a buy rating to a hold rating in a research report on Friday, January 18th. TheStreet raised Echo Global Logistics from a c+ rating to a b rating in a research report on Thursday, April 4th. Morgan Stanley lowered Echo Global Logistics from an equal weight rating to an underweight rating and set a $23.40 price target for the company. in a research report on Wednesday, March 6th. Finally, Cowen reissued a buy rating and issued a $33.00 price target on shares of Echo Global Logistics in a research report on Thursday, April 25th. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Echo Global Logistics presently has a consensus rating of Hold and an average price target of $29.71.

Shares of NASDAQ ECHO opened at $21.61 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $613.18 million, a price-to-earnings ratio of 13.34, a PEG ratio of 0.83 and a beta of 1.98. Echo Global Logistics has a twelve month low of $18.83 and a twelve month high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $538.10 million during the quarter, compared to analyst estimates of $549.32 million. Echo Global Logistics had a return on equity of 11.64% and a net margin of 1.15%. Echo Global Logistics’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Research analysts expect that Echo Global Logistics will post 1.51 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in ECHO. Prospect Capital Advisors LLC purchased a new stake in shares of Echo Global Logistics in the first quarter worth about $3,152,000. Pinebridge Investments L.P. boosted its position in Echo Global Logistics by 4.0% during the first quarter. Pinebridge Investments L.P. now owns 33,190 shares of the transportation company’s stock worth $823,000 after purchasing an additional 1,286 shares in the last quarter. Geode Capital Management LLC boosted its position in Echo Global Logistics by 7.5% during the first quarter. Geode Capital Management LLC now owns 338,098 shares of the transportation company’s stock worth $8,378,000 after purchasing an additional 23,536 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Echo Global Logistics by 17.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 399,327 shares of the transportation company’s stock worth $9,896,000 after purchasing an additional 58,054 shares in the last quarter. Finally, Greytown Advisors Inc. purchased a new position in Echo Global Logistics during the first quarter worth approximately $202,000. 96.48% of the stock is currently owned by institutional investors.

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.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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