Echo Global Logistics (NASDAQ:ECHO) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from a sell rating to a hold rating in a report issued on Saturday, June 29th, BidAskClub reports.

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.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Echo Global Logistics had a return on equity of 11.64% and a net margin of 1.15%. The firm had revenue of $538.10 million during the quarter, compared to the consensus estimate of $549.32 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s revenue was down 6.8% on a year-over-year basis. On average, analysts forecast that Echo Global Logistics will post 1.51 earnings per share for the current year.

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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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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