Several other research firms have also recently issued reports on ECHO. Zacks Investment Research raised Garrett Motion from a sell rating to a hold rating in a research note on Friday, May 10th. TheStreet upgraded Viacom from a c+ rating to a b- rating in a report on Wednesday, April 24th. Susquehanna Bancshares lowered Echo Global Logistics from a positive rating to a neutral rating in a report on Wednesday, April 10th. Morgan Stanley lowered Echo Global Logistics from an equal weight rating to an underweight rating and set a $23.40 price objective for the company. in a report on Wednesday, March 6th. Finally, Cowen upped their price objective on ServiceNow from $260.00 to $280.00 and gave the company an outperform rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $28.40.
ECHO traded up $0.04 during trading on Friday, reaching $19.13. 135,004 shares of the company were exchanged, compared to its average volume of 237,179. The firm has a market capitalization of $533.67 million, a PE ratio of 11.81, a P/E/G ratio of 0.72 and a beta of 1.94. The business’s 50 day moving average price is $19.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.44 and a current ratio of 1.44. Echo Global Logistics has a 52 week low of $18.83 and a 52 week high of $36.75.
Institutional investors have recently made changes to their positions in the stock. Summit Creek Advisors LLC lifted its holdings in shares of Echo Global Logistics by 0.3% in the second quarter. Summit Creek Advisors LLC now owns 338,530 shares of the transportation company’s stock valued at $7,065,000 after purchasing an additional 910 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Echo Global Logistics by 11.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 85,204 shares of the transportation company’s stock valued at $1,778,000 after purchasing an additional 8,747 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Echo Global Logistics in the first quarter valued at about $208,000. Greytown Advisors Inc. bought a new stake in shares of Echo Global Logistics in the first quarter valued at about $202,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Echo Global Logistics by 45.8% in the first quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock valued at $9,349,000 after purchasing an additional 118,550 shares in the last quarter. 98.00% of the stock is owned by hedge funds and other institutional investors.
About Echo Global Logistics
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.
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