Credit Suisse Group Boosts Echo Global Logistics (ECHO) Price Target to $30.00
Echo Global Logistics (NASDAQ:ECHO) had its price objective lifted by Credit Suisse Group from $24.50 to $30.00 in a report released on Thursday morning. They currently have a neutral rating on the transportation company’s stock.
A number of other brokerages also recently issued reports on ECHO. UBS Group raised shares of Echo Global Logistics from a sell rating to a neutral rating and set a $33.00 price objective on the stock in a research report on Monday, January 29th. Cowen restated an outperform rating and set a $34.00 target price (up previously from $23.00) on shares of Echo Global Logistics in a report on Thursday. Zacks Investment Research cut shares of Echo Global Logistics from a buy rating to a hold rating in a report on Thursday, January 11th. Stephens restated a buy rating and set a $34.00 target price on shares of Echo Global Logistics in a report on Wednesday, January 10th. Finally, Macquarie cut shares of Echo Global Logistics from an outperform rating to a neutral rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Echo Global Logistics currently has an average rating of Hold and an average target price of $29.90.
Echo Global Logistics (NASDAQ:ECHO) opened at $28.45 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.40 and a debt-to-equity ratio of 0.59. The stock has a market cap of $793.98, a price-to-earnings ratio of 61.85, a price-to-earnings-growth ratio of 2.27 and a beta of 1.55. Echo Global Logistics has a 1 year low of $13.00 and a 1 year high of $32.95.
In other news, COO David B. Menzel sold 30,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $24.55, for a total transaction of $736,500.00. Following the sale, the chief operating officer now owns 180,322 shares in the company, valued at approximately $4,426,905.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ECHO. Granahan Investment Management Inc. MA boosted its stake in Echo Global Logistics by 1,669.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after purchasing an additional 793,366 shares in the last quarter. Janus Henderson Group PLC bought a new position in Echo Global Logistics in the 2nd quarter worth about $14,062,000. Hood River Capital Management LLC bought a new position in Echo Global Logistics in the 4th quarter worth about $9,043,000. Kornitzer Capital Management Inc. KS bought a new position in Echo Global Logistics in the 3rd quarter worth about $5,942,000. Finally, Dimensional Fund Advisors LP boosted its stake in Echo Global Logistics by 20.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after purchasing an additional 309,610 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.
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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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