Cowen Reiterates Buy Rating for Echo Global Logistics (ECHO)
Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “buy” rating reissued by equities research analysts at Cowen in a research note issued on Monday, AnalystRatings.com reports. They currently have a $35.00 price objective on the transportation company’s stock. Cowen’s price target would indicate a potential upside of 39.94% from the company’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, February 7th. Morgan Stanley lowered shares of Echo Global Logistics from an “equal weight” rating to an “underweight” rating and set a $23.40 price objective for the company. in a report on Wednesday, March 6th. BidaskClub raised shares of Echo Global Logistics from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 9th. SunTrust Banks initiated coverage on shares of Echo Global Logistics in a research note on Wednesday, December 12th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Credit Suisse Group cut their target price on shares of Echo Global Logistics from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.64.
ECHO stock opened at $25.01 on Monday. Echo Global Logistics has a 52-week low of $18.83 and a 52-week high of $36.75. The company has a market cap of $709.92 million, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.91 and a beta of 2.05. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47.
A number of hedge funds have recently added to or reduced their stakes in ECHO. Geode Capital Management LLC boosted its holdings in shares of Echo Global Logistics by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 314,562 shares of the transportation company’s stock valued at $6,395,000 after buying an additional 40,677 shares during the period. Hancock Whitney Corp acquired a new stake in Echo Global Logistics during the fourth quarter worth about $555,000. Thrivent Financial for Lutherans raised its stake in Echo Global Logistics by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 20,112 shares of the transportation company’s stock worth $409,000 after acquiring an additional 1,463 shares during the period. Globeflex Capital L P raised its stake in Echo Global Logistics by 56.0% during the fourth quarter. Globeflex Capital L P now owns 18,271 shares of the transportation company’s stock worth $371,000 after acquiring an additional 6,560 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Echo Global Logistics in the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 99.04% 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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