Echo Global Logistics’ (ECHO) “Outperform” Rating Reiterated at Barrington Research
Barrington Research reiterated their outperform rating on shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in a research note published on Monday morning, MarketBeat Ratings reports. Barrington Research currently has a $26.00 price objective on the transportation company’s stock, up from their prior price objective of $18.00.
A number of other research firms have also recently commented on ECHO. Zacks Investment Research raised Echo Global Logistics from a sell rating to a hold rating in a research note on Monday, October 2nd. BidaskClub cut Echo Global Logistics from a sell rating to a strong sell rating in a research note on Monday, July 31st. Cowen and Company reissued a buy rating and issued a $19.00 target price on shares of Echo Global Logistics in a research note on Friday, September 1st. UBS AG increased their target price on Echo Global Logistics from $13.00 to $19.00 and gave the stock a sell rating in a research note on Thursday, October 26th. Finally, William Blair reissued a market perform rating on shares of Echo Global Logistics in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $23.56.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The firm had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $473.44 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis.
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In other Echo Global Logistics news, CFO Kyle Sauers sold 20,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total value of $478,400.00. Following the transaction, the chief financial officer now owns 65,919 shares of the company’s stock, valued at $1,576,782.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David B. Menzel sold 57,500 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total value of $1,374,825.00. Following the completion of the transaction, the chief operating officer now directly owns 187,822 shares in the company, valued at approximately $4,490,824.02. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC lifted its holdings in Echo Global Logistics by 100.6% in the second quarter. Lazard Asset Management LLC now owns 499,146 shares of the transportation company’s stock valued at $9,933,000 after acquiring an additional 250,270 shares during the period. Isthmus Partners LLC lifted its holdings in Echo Global Logistics by 33.0% in the second quarter. Isthmus Partners LLC now owns 36,433 shares of the transportation company’s stock valued at $725,000 after acquiring an additional 9,046 shares during the period. UBS Group AG lifted its holdings in Echo Global Logistics by 252.2% in the first quarter. UBS Group AG now owns 32,239 shares of the transportation company’s stock valued at $688,000 after acquiring an additional 23,085 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Echo Global Logistics by 33.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock valued at $4,335,000 after acquiring an additional 54,658 shares during the period. Finally, Fenimore Asset Management Inc. lifted its holdings in Echo Global Logistics by 12.2% in the second quarter. Fenimore Asset Management Inc. now owns 396,750 shares of the transportation company’s stock valued at $7,895,000 after acquiring an additional 43,275 shares during the period. 86.43% of the stock is currently owned by institutional investors.
About Echo Global Logistics
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.
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