Equities analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report $525.32 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $518.94 million and the highest estimate coming in at $531.70 million. Echo Global Logistics posted sales of $415.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.4%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, April 25th.
On average, analysts expect that Echo Global Logistics will report full year sales of $525.32 million for the current fiscal year, with estimates ranging from $2.20 billion to $2.26 billion. For the next financial year, analysts expect that the company will report sales of $2.47 billion per share, with estimates ranging from $2.41 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. The firm had revenue of $547.70 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.07 earnings per share.
A number of analysts have commented on the stock. BidaskClub upgraded shares of Echo Global Logistics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 4th. ValuEngine upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Morgan Stanley cut shares of Echo Global Logistics from an “equal weight” rating to an “underweight” rating and set a $15.00 price target for the company. in a research note on Friday, February 23rd. Zacks Investment Research upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, February 16th. Finally, Barrington Research increased their price target on shares of Echo Global Logistics from $26.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Echo Global Logistics has a consensus rating of “Buy” and a consensus target price of $30.40.
In other news, CEO Douglas R. Waggoner sold 25,000 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $28.03, for a total value of $700,750.00. Following the transaction, the chief executive officer now directly owns 310,402 shares of the company’s stock, valued at $8,700,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Wagner Ferguson sold 10,389 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $29.18, for a total transaction of $303,151.02. Following the completion of the transaction, the director now directly owns 17,983 shares in the company, valued at $524,743.94. The disclosure for this sale can be found here. Insiders sold 110,389 shares of company stock worth $3,138,901 over the last three months. Insiders own 8.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ECHO. Park West Asset Management LLC bought a new position in shares of Echo Global Logistics in the fourth quarter valued at about $22,802,000. Granahan Investment Management Inc. MA increased its position in Echo Global Logistics by 1,669.3% during the third quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after acquiring an additional 793,366 shares during the period. Next Century Growth Investors LLC increased its position in Echo Global Logistics by 941.3% during the fourth quarter. Next Century Growth Investors LLC now owns 624,758 shares of the transportation company’s stock worth $17,493,000 after acquiring an additional 564,758 shares during the period. Teachers Advisors LLC increased its position in Echo Global Logistics by 1,104.7% during the fourth quarter. Teachers Advisors LLC now owns 590,273 shares of the transportation company’s stock worth $16,528,000 after acquiring an additional 541,275 shares during the period. Finally, Hood River Capital Management LLC bought a new position in Echo Global Logistics during the fourth quarter worth about $9,043,000. 99.04% of the stock is currently owned by institutional investors.
ECHO stock traded up $0.55 during trading hours on Friday, reaching $28.40. The stock had a trading volume of 162,668 shares, compared to its average volume of 403,274. The stock has a market cap of $784.69, a P/E ratio of 41.79, a P/E/G ratio of 1.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.49 and a quick ratio of 1.49. Echo Global Logistics has a fifty-two week low of $13.00 and a fifty-two week high of $32.95.
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About Echo Global Logistics
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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