Stephens set a $40.00 target price on Echo Global Logistics (NASDAQ:ECHO) in a research note published on Thursday morning. The firm currently has a buy rating on the transportation company’s stock.

A number of other equities analysts have also recently issued reports on ECHO. JPMorgan Chase & Co. upped their price objective on Echo Global Logistics from $19.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, October 12th. Cowen upped their price objective on Echo Global Logistics from $19.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, October 26th. UBS Group upped their price objective on Echo Global Logistics from $13.00 to $19.00 and gave the stock a sell rating in a report on Thursday, October 26th. Stifel Nicolaus upped their price objective on Echo Global Logistics from $21.00 to $25.00 and gave the stock a buy rating in a report on Thursday, October 26th. Finally, Morgan Stanley upped their price objective on Echo Global Logistics from $14.00 to $15.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $29.90.

Echo Global Logistics (ECHO) opened at $28.45 on Thursday. Echo Global Logistics has a fifty-two week low of $13.00 and a fifty-two week high of $32.95. The company has a quick ratio of 1.40, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $793.98, a PE ratio of 61.85, a PEG ratio of 2.27 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.14. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The firm had revenue of $547.70 million during the quarter, compared to analysts’ expectations of $484.47 million. During the same period in the prior year, the business earned $0.07 EPS. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. research analysts anticipate that Echo Global Logistics will post 0.72 earnings per share for the current fiscal year.

In other Echo Global Logistics news, COO David B. Menzel sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the completion of the transaction, the chief operating officer now owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. bought a new position in Echo Global Logistics during the 4th quarter valued at approximately $238,000. Teacher Retirement System of Texas bought a new position in Echo Global Logistics during the 4th quarter valued at approximately $245,000. UBS Asset Management Americas Inc. bought a new position in Echo Global Logistics during the 4th quarter valued at approximately $266,000. Municipal Employees Retirement System of Michigan raised its position in Echo Global Logistics by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 3,830 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Echo Global Logistics during the 3rd quarter valued at approximately $207,000. 93.83% of the stock is owned by institutional investors and hedge funds.

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Echo Global Logistics Company Profile

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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