ValuEngine upgraded shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) from a sell rating to a hold rating in a research note released on Friday.

A number of other equities analysts have also commented on the company. UBS AG lowered Echo Global Logistics from a neutral rating to a sell rating and cut their price objective for the stock from $22.00 to $13.00 in a research note on Friday. BidaskClub lowered Echo Global Logistics from a hold rating to a sell rating in a research note on Monday, July 24th. Stifel Nicolaus reaffirmed a buy rating on shares of Echo Global Logistics in a research note on Wednesday, July 19th. Macquarie reaffirmed an outperform rating and issued a $29.00 price objective on shares of Echo Global Logistics in a research note on Monday, July 10th. Finally, Zacks Investment Research raised Echo Global Logistics from a sell rating to a hold rating in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $21.17.

Shares of Echo Global Logistics (NASDAQ:ECHO) opened at 13.65 on Friday. The company’s market capitalization is $382.20 million. The stock has a 50 day moving average price of $18.95 and a 200-day moving average price of $20.58. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $28.90.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. The company had revenue of $470.10 million during the quarter, compared to analyst estimates of $470.25 million. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. Echo Global Logistics’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities research analysts expect that Echo Global Logistics will post $0.83 EPS for the current year.

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Echo Global Logistics announced that its Board of Directors has authorized a share buyback program on Monday, May 1st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of Echo Global Logistics stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $19.48, for a total value of $194,800.00. Following the completion of the sale, the chief operating officer now directly owns 163,141 shares in the company, valued at $3,177,986.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.10% of the company’s stock.

A number of large investors have recently modified their holdings of ECHO. Dimensional Fund Advisors LP increased its stake in shares of Echo Global Logistics by 13.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,497,435 shares of the transportation company’s stock worth $31,970,000 after buying an additional 181,052 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Echo Global Logistics by 8.4% in the first quarter. Vanguard Group Inc. now owns 1,426,941 shares of the transportation company’s stock worth $30,465,000 after buying an additional 110,145 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Echo Global Logistics by 53.0% in the first quarter. Loomis Sayles & Co. L P now owns 786,219 shares of the transportation company’s stock worth $16,786,000 after buying an additional 272,321 shares during the last quarter. State Street Corp increased its stake in shares of Echo Global Logistics by 1.2% in the first quarter. State Street Corp now owns 727,918 shares of the transportation company’s stock worth $15,540,000 after buying an additional 8,351 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Echo Global Logistics by 6.9% in the first quarter. Stephens Investment Management Group LLC now owns 636,876 shares of the transportation company’s stock worth $13,597,000 after buying an additional 40,974 shares during the last quarter. Institutional investors and hedge funds own 88.85% of the company’s stock.

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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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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