Equities research analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to post sales of $627.38 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Echo Global Logistics’ earnings, with estimates ranging from $612.62 million to $636.40 million. Echo Global Logistics reported sales of $509.53 million during the same quarter last year, which indicates a positive year over year growth rate of 23.1%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 24th.
On average, analysts expect that Echo Global Logistics will report full year sales of $2.44 billion for the current year, with estimates ranging from $2.42 billion to $2.47 billion. For the next financial year, analysts expect that the firm will report sales of $2.65 billion, with estimates ranging from $2.64 billion to $2.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Echo Global Logistics had a net margin of 1.24% and a return on equity of 9.43%. The firm had revenue of $635.00 million for the quarter, compared to the consensus estimate of $611.26 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis.
A number of brokerages have recently issued reports on ECHO. TheStreet raised shares of Echo Global Logistics from a “c+” rating to a “b-” rating in a report on Friday, August 10th. BidaskClub downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Morgan Stanley increased their price target on shares of Echo Global Logistics from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday. Stifel Nicolaus increased their price target on shares of Echo Global Logistics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Credit Suisse Group increased their price target on shares of Echo Global Logistics from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Echo Global Logistics has a consensus rating of “Hold” and a consensus target price of $34.89.
Shares of Echo Global Logistics stock opened at $27.46 on Friday. Echo Global Logistics has a 12-month low of $18.70 and a 12-month high of $36.75. The stock has a market capitalization of $883.56 million, a PE ratio of 41.42, a PEG ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.57.
In related news, CEO Douglas R. Waggoner sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $33.03, for a total value of $165,150.00. Following the transaction, the chief executive officer now directly owns 311,532 shares in the company, valued at $10,289,901.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David B. Menzel sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $34.13, for a total transaction of $682,600.00. Following the completion of the transaction, the chief operating officer now owns 147,334 shares in the company, valued at $5,028,509.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,000 shares of company stock worth $2,307,090. 3.20% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ECHO. Federated Investors Inc. PA increased its position in shares of Echo Global Logistics by 820.8% in the first quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock worth $114,000 after purchasing an additional 3,669 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Echo Global Logistics in the second quarter worth approximately $175,000. Piedmont Investment Advisors LLC bought a new position in shares of Echo Global Logistics in the second quarter worth approximately $182,000. PNC Financial Services Group Inc. increased its position in shares of Echo Global Logistics by 392.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock worth $261,000 after purchasing an additional 7,523 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Echo Global Logistics in the first quarter worth approximately $279,000. Institutional investors own 97.99% of the company’s stock.
Echo Global Logistics Company Profile
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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