Echo Global Logistics (ECHO) Given “Outperform” Rating at Cowen
Cowen reiterated their outperform rating on shares of Echo Global Logistics (NASDAQ:ECHO) in a report published on Thursday morning, MarketBeat Ratings reports. They currently have a $34.00 target price on the transportation company’s stock, up from their prior target price of $23.00.
A number of other research firms have also commented on ECHO. Stifel Nicolaus restated a buy rating and issued a $31.00 price target (up from $25.00) on shares of Echo Global Logistics in a research report on Friday, December 8th. Barrington Research reaffirmed an outperform rating and issued a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. UBS Group boosted their target price on shares of Echo Global Logistics from $13.00 to $19.00 and gave the stock a sell rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Echo Global Logistics from $19.00 to $25.00 and gave the stock an overweight rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $29.90.
Echo Global Logistics (ECHO) opened at $28.45 on Thursday. The company has a market cap of $793.98, a PE ratio of 42.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.55. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $32.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.40.
In other Echo Global Logistics news, COO David B. Menzel sold 30,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the transaction, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at $4,426,905.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Republic Investment Management Inc. bought a new stake in shares of Echo Global Logistics during the fourth quarter worth approximately $238,000. Teacher Retirement System of Texas bought a new stake in shares of Echo Global Logistics during the fourth quarter worth approximately $245,000. UBS Asset Management Americas Inc. bought a new stake in shares of Echo Global Logistics during the fourth quarter worth approximately $266,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Echo Global Logistics by 59.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock worth $194,000 after buying an additional 3,830 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Echo Global Logistics during the third quarter worth approximately $207,000. 93.83% of the stock is owned by institutional investors.
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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.
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