Echo Global Logistics (NASDAQ:ECHO)‘s stock had its “buy” rating reaffirmed by Stephens in a research note issued to investors on Wednesday. They presently have a $34.00 target price on the transportation company’s stock. Stephens’ target price indicates a potential upside of 19.72% from the company’s previous close.

A number of other brokerages also recently issued reports on ECHO. Macquarie downgraded shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating in a report on Thursday, December 14th. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price objective (up from $25.00) on shares of Echo Global Logistics in a research note on Friday, December 8th. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research note on Wednesday, November 1st. Barrington Research reissued an “outperform” rating and issued a $26.00 price objective (up from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. Finally, Credit Suisse Group lifted their price objective on shares of Echo Global Logistics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Echo Global Logistics presently has an average rating of “Hold” and an average price target of $24.90.

Shares of Echo Global Logistics (ECHO) traded down $0.05 during midday trading on Wednesday, reaching $28.40. 306,400 shares of the company’s stock were exchanged, compared to its average volume of 284,417. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $796.76, a P/E ratio of -218.46, a P/E/G ratio of 2.08 and a beta of 1.55. Echo Global Logistics has a one year low of $13.00 and a one year high of $29.00.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $509.50 million for the quarter, compared to the consensus estimate of $473.44 million. Echo Global Logistics had a net margin of 0.47% and a return on equity of 2.78%. Echo Global Logistics’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. equities analysts anticipate that Echo Global Logistics will post 0.49 earnings per share for the current fiscal year.

In related news, CEO Douglas R. Waggoner sold 25,160 shares of Echo Global Logistics stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $23.91, for a total transaction of $601,575.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the transaction, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at $4,426,905.10. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock valued at $6,035,871 over the last three months. Corporate insiders own 8.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA boosted its stake in shares of Echo Global Logistics by 1,669.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after purchasing an additional 793,366 shares during the period. Stifel Financial Corp boosted its stake in shares of Echo Global Logistics by 13.3% during the 3rd quarter. Stifel Financial Corp now owns 26,637 shares of the transportation company’s stock worth $508,000 after purchasing an additional 3,128 shares during the period. Elk Creek Partners LLC boosted its stake in shares of Echo Global Logistics by 50.3% during the 3rd quarter. Elk Creek Partners LLC now owns 620,013 shares of the transportation company’s stock worth $11,687,000 after purchasing an additional 207,557 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Echo Global Logistics by 9.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,984,863 shares of the transportation company’s stock worth $37,414,000 after purchasing an additional 177,818 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Echo Global Logistics by 4.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 228,347 shares of the transportation company’s stock worth $4,305,000 after purchasing an additional 10,534 shares during the period. 94.92% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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