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BidaskClub Lowers Echo Global Logistics (NASDAQ:ECHO) to Hold

Echo Global Logistics (NASDAQ:ECHO) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday, November 15th, BidAskClub reports.

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Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. UBS Group set a $23.00 price objective on shares of Echo Global Logistics and gave the company a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. downgraded shares of Echo Global Logistics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $22.00 to $26.00 in a report on Friday, October 4th. Finally, Barrington Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Echo Global Logistics in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Echo Global Logistics has an average rating of “Hold” and an average price target of $25.40.

Shares of NASDAQ:ECHO traded up $0.76 during trading hours on Friday, hitting $19.88. The stock had a trading volume of 7,721 shares, compared to its average volume of 202,228. The stock’s fifty day simple moving average is $21.65 and its 200 day simple moving average is $20.94. Echo Global Logistics has a 1-year low of $18.00 and a 1-year high of $25.95. The firm has a market capitalization of $521.74 million, a price-to-earnings ratio of 12.20, a PEG ratio of 0.92 and a beta of 1.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.39 and a current ratio of 1.39.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $561.44 million for the quarter, compared to analyst estimates of $548.10 million. Echo Global Logistics had a net margin of 0.91% and a return on equity of 9.70%. Echo Global Logistics’s revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. As a group, research analysts anticipate that Echo Global Logistics will post 1.18 EPS for the current year.

Large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Echo Global Logistics by 0.7% in the second quarter. BlackRock Inc. now owns 4,332,605 shares of the transportation company’s stock valued at $90,421,000 after purchasing an additional 30,187 shares in the last quarter. North Star Asset Management Inc. lifted its holdings in Echo Global Logistics by 0.6% in the third quarter. North Star Asset Management Inc. now owns 475,831 shares of the transportation company’s stock valued at $10,778,000 after acquiring an additional 2,635 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Echo Global Logistics by 18.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 471,904 shares of the transportation company’s stock worth $9,849,000 after purchasing an additional 72,577 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Echo Global Logistics by 3.1% during the second quarter. Stephens Investment Management Group LLC now owns 471,323 shares of the transportation company’s stock worth $9,837,000 after purchasing an additional 14,292 shares in the last quarter. Finally, AMI Asset Management Corp lifted its stake in Echo Global Logistics by 21.5% during the second quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock worth $9,527,000 after purchasing an additional 80,747 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

Echo Global Logistics Company 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.

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Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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