Greytown Advisors Inc. purchased a new position in Echo Global Logistics, Inc. (NASDAQ:ECHO) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 8,140 shares of the transportation company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Echo Global Logistics by 388.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,186 shares of the transportation company’s stock valued at $187,000 after buying an additional 7,304 shares in the last quarter. BBT Capital Management LLC acquired a new stake in Echo Global Logistics in the 4th quarter worth approximately $694,000. Victory Capital Management Inc. boosted its stake in Echo Global Logistics by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 61,268 shares of the transportation company’s stock worth $1,246,000 after purchasing an additional 1,074 shares in the last quarter. Barclays PLC boosted its stake in Echo Global Logistics by 70.7% in the 4th quarter. Barclays PLC now owns 93,238 shares of the transportation company’s stock worth $1,896,000 after purchasing an additional 38,603 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Echo Global Logistics by 12.8% in the 4th quarter. Bank of Montreal Can now owns 64,458 shares of the transportation company’s stock worth $1,311,000 after purchasing an additional 7,336 shares in the last quarter. 98.46% of the stock is currently owned by institutional investors.

ECHO traded down $0.42 during trading on Friday, reaching $20.40. 382 shares of the company’s stock were exchanged, compared to its average volume of 261,765. Echo Global Logistics, Inc. has a 1 year low of $18.83 and a 1 year high of $36.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $573.28 million, a PE ratio of 12.76, a P/E/G ratio of 0.78 and a beta of 2.01.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. The company had revenue of $538.10 million during the quarter, compared to analyst estimates of $549.32 million. During the same period last year, the firm posted $0.40 EPS. Echo Global Logistics’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, analysts predict that Echo Global Logistics, Inc. will post 1.51 EPS for the current fiscal year.

A number of analysts recently commented on the stock. Cowen reiterated a “buy” rating and issued a $33.00 target price on shares of Echo Global Logistics in a research note on Thursday, April 25th. TheStreet cut shares of Echo Global Logistics from a “b” rating to a “c+” rating in a research note on Wednesday, April 24th. BidaskClub upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Morgan Stanley upgraded shares of Echo Global Logistics from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $22.00 to $25.00 in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Echo Global Logistics has a consensus rating of “Hold” and an average target price of $29.71.

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Echo Global Logistics Profile

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.

Read More: Dead Cat Bounce

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Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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