Echo Global Logistics’ (NASDAQ:ECHO) Market Perform Rating Reiterated at William Blair

Echo Global Logistics, Inc. (NASDAQ:ECHO)‘s stock had its “market perform” rating reaffirmed by William Blair in a research note issued to investors on Friday, July 28th.

Several other equities analysts also recently commented on the company. BidaskClub downgraded Echo Global Logistics from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Barrington Research cut their price objective on Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. Credit Suisse Group downgraded Echo Global Logistics from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $14.00 in a research report on Monday, July 31st. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, UBS AG downgraded Echo Global Logistics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $22.00 to $13.00 in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Echo Global Logistics currently has an average rating of “Hold” and a consensus target price of $20.14.

Echo Global Logistics (NASDAQ:ECHO) opened at 14.00 on Friday. Echo Global Logistics has a one year low of $13.00 and a one year high of $28.90. The company’s market cap is $399.48 million. The stock has a 50 day moving average of $16.75 and a 200 day moving average of $19.61.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $470.10 million during the quarter, compared to the consensus estimate of $470.25 million. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. On average, analysts anticipate that Echo Global Logistics will post $0.59 earnings per share for the current fiscal year.

Echo Global Logistics announced that its Board of Directors has authorized a share repurchase program on Monday, May 1st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Echo Global Logistics’ (NASDAQ:ECHO) Market Perform Rating Reiterated at William Blair” was reported by BNB Daily and is the sole property of of BNB Daily. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/19/echo-global-logistics-inc-nasdaqecho-rating-reiterated-by-william-blair-updated-updated.html.

In related news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $19.48, for a total transaction of $194,800.00. Following the completion of the sale, the chief operating officer now directly owns 163,141 shares in the company, valued at approximately $3,177,986.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Echo Global Logistics by 20.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after buying an additional 309,610 shares during the period. Vanguard Group Inc. boosted its stake in shares of Echo Global Logistics by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock worth $29,299,000 after buying an additional 45,347 shares during the period. Franklin Resources Inc. boosted its stake in shares of Echo Global Logistics by 25.1% in the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock worth $27,726,000 after buying an additional 279,142 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Echo Global Logistics by 53.0% in the first quarter. Loomis Sayles & Co. L P now owns 786,219 shares of the transportation company’s stock worth $16,786,000 after buying an additional 272,321 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in Echo Global Logistics by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 776,218 shares of the transportation company’s stock worth $15,447,000 after buying an additional 156,516 shares during the period. Hedge funds and other institutional investors own 90.90% of the company’s stock.

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)

Receive News & Ratings for Echo Global Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply