Morgan Stanley upgraded shares of Echo Global Logistics (NASDAQ:ECHO) from an underweight rating to an equal weight rating in a report published on Tuesday, Marketbeat Ratings reports. Morgan Stanley currently has $25.00 price objective on the transportation company’s stock, up from their prior price objective of $22.00.
ECHO has been the subject of a number of other reports. Zacks Investment Research raised Echo Global Logistics from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Thursday, February 7th. ValuEngine cut Echo Global Logistics from a hold rating to a sell rating in a research note on Monday, November 12th. SunTrust Banks started coverage on Echo Global Logistics in a research note on Wednesday, December 12th. They set a buy rating and a $28.00 target price for the company. BidaskClub cut Echo Global Logistics from a sell rating to a strong sell rating in a research note on Tuesday, November 13th. Finally, Credit Suisse Group lowered their target price on Echo Global Logistics from $29.00 to $24.00 and set a neutral rating for the company in a research note on Tuesday, January 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $31.14.
Get Echo Global Logistics alerts:NASDAQ ECHO opened at $23.12 on Tuesday. Echo Global Logistics has a 52-week low of $18.83 and a 52-week high of $36.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.48 and a quick ratio of 1.51. The company has a market cap of $725.66 million, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.91 and a beta of 1.89.
Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, February 6th. The transportation company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Echo Global Logistics had a return on equity of 12.01% and a net margin of 1.18%. The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $587.32 million. During the same period in the prior year, the business earned $0.33 EPS. Echo Global Logistics’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that Echo Global Logistics will post 1.6 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of ECHO. Standard Life Aberdeen plc bought a new position in shares of Echo Global Logistics during the 3rd quarter worth approximately $42,950,000. Federated Investors Inc. PA grew its stake in shares of Echo Global Logistics by 8,317.6% during the 3rd quarter. Federated Investors Inc. PA now owns 351,098 shares of the transportation company’s stock worth $10,866,000 after acquiring an additional 346,927 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Echo Global Logistics by 18.7% during the 3rd quarter. Vanguard Group Inc now owns 2,037,639 shares of the transportation company’s stock worth $63,065,000 after acquiring an additional 320,525 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Echo Global Logistics by 18.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,037,639 shares of the transportation company’s stock worth $63,065,000 after acquiring an additional 320,525 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Echo Global Logistics by 5.6% during the 3rd quarter. BlackRock Inc. now owns 4,274,645 shares of the transportation company’s stock worth $132,301,000 after acquiring an additional 226,616 shares in the last quarter. 98.74% of the stock is owned by institutional investors.
About Echo Global Logistics
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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