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.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.14. The firm had revenue of $547.70 million for the quarter, compared to analyst estimates of $484.47 million. Echo Global Logistics had a net margin of 0.65% and a return on equity of 5.22%. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. equities research analysts predict that Echo Global Logistics will post 0.72 EPS for the current year.

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.

Analyst Recommendations for Echo Global Logistics (NASDAQ:ECHO)

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