Macquarie downgraded shares of Echo Global Logistics (NASDAQ:ECHO) from an outperform rating to a neutral rating in a research note published on Thursday morning, MarketBeat Ratings reports.

ECHO has been the topic of several other reports. Cowen lifted their price objective on Echo Global Logistics from $19.00 to $23.00 and gave the company an outperform rating in a research note on Thursday, October 26th. J P Morgan Chase & Co lifted their price objective on Echo Global Logistics from $19.00 to $25.00 and gave the company an overweight rating in a research note on Thursday, October 12th. Stifel Nicolaus lifted their price objective on Echo Global Logistics from $21.00 to $25.00 and gave the company a buy rating in a research note on Thursday, October 26th. ValuEngine lowered Echo Global Logistics from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised Echo Global Logistics from a sell rating to a hold rating and set a $27.00 price target on the stock in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Echo Global Logistics currently has a consensus rating of Hold and an average price target of $24.50.

Echo Global Logistics (ECHO) traded up $0.45 during midday trading on Thursday, hitting $26.95. The stock had a trading volume of 796,126 shares, compared to its average volume of 450,657. The firm has a market cap of $752.12, a price-to-earnings ratio of 65.73, a P/E/G ratio of 3.13 and a beta of 1.55. Echo Global Logistics has a fifty-two week low of $13.00 and a fifty-two week high of $28.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. equities analysts expect that Echo Global Logistics will post 0.49 earnings per share for the current fiscal year.

In other Echo Global Logistics news, Director Samuel K. Skinner sold 120,000 shares of Echo Global Logistics stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total transaction of $2,821,200.00. Following the sale, the director now directly owns 24,346 shares in the company, valued at approximately $572,374.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the sale, the chief operating officer now owns 180,322 shares in the company, valued at $4,426,905.10. The disclosure for this sale can be found here. Insiders have sold a total of 253,660 shares of company stock worth $6,035,871 over the last three months. 8.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its holdings in Echo Global Logistics by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock worth $223,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund increased its holdings in Echo Global Logistics by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock worth $398,000 after purchasing an additional 214 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Echo Global Logistics by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock worth $128,000 after purchasing an additional 260 shares during the last quarter. ETRADE Capital Management LLC increased its holdings in Echo Global Logistics by 1.0% during the 2nd quarter. ETRADE Capital Management LLC now owns 39,327 shares of the transportation company’s stock worth $783,000 after purchasing an additional 407 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Echo Global Logistics by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 208,387 shares of the transportation company’s stock worth $4,147,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

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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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