Echo Global Logistics (NASDAQ:ECHO) Rating Reaffirmed
They currently have a $28 target price per share on Echo Global Logistics (NASDAQ:ECHO). The target price by Stifel would suggest a potential upside of 32.58% from the company’s last stock close price. This has been disclosed in analysts report on 9 December.
From a total of 13 analysts covering Echo Global Logistics (NASDAQ:ECHO) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. The highest target price is $43 while the lowest target price is $21. The mean of all analyst targets is $29.92 with a 32.58% above today’s ($21.12) stock price. Echo Global Logistics was the topic of 12 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. BB&T Capital upgraded shares on October 29 to “Buy” rating. Stifel Nicolaus upgraded shares to “Buy” rating and $30 target share price in a report from an August 18. TheStreet downgraded ECHO stock in a recent report from September 4 to “Hold” rating. Finally, Barrington Research maintained the stock with “Outperform” rating in a report issued on an August 28.
The stock closed the day at $21.12 during the previous session. It is down 27.40% since May 6, 2015 and is downtrending. It has underperformed by 26.60% the S&P500.
The overall sentiment of institutions has decreased to 1.13 in Q2 2015. Its down 0.77, from 1.9 in 2015Q2. The ratio turned negative, as 39 institutions have sold all the shares of Echo Global Logistics, Inc. that they owned while 40 funds have taken shares off the table. 23 funds have purchased shares for the first time while 66 added to their positions. These institutions now hold 33.23 million shares or 26.53% more than the 26.26 million shares they owned in 2015Q2.
The Fund Newland Capital Management Llc currently is holding shares equating to 7.57% of its total portfolio in Echo Global Logistics, Inc. representing a total of 424,727 shares. Another fund,Omt Capital Management Llc, is holding a total of 160,440 shares equating to 3.84% of their holdings. Additionally, Summit Creek Advisors Llc has a 466,225 share stake in Echo Global Logistics, Inc. which represents 1.48% of their total portfolio. The Fund, Taylor Frigon Capital Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 1.1% of their total portfolio. Finally North Star Asset Management Inc, a fund which is based in the state of Wisconsin reported a total holdings of 392,016 shares.
Echo Global Logistics, Inc. is a provider of technology-enabled transportation and supply chain management services, delivered on a technology platform serving the transportation and logistics needs of its clients. The company has a market cap of $653.55 million. The Firm provides services across major transportation modes, including truckload , less-than-truckload (LTL), small parcel, intermodal, domestic air, and international. It has 49.92 P/E ratio. The Company’s core logistics services include rate negotiation, shipment execution and tracking, carrier selection and management, routing compliance, freight bill audit, and payment and performance management and reporting functions, including executive dashboard tools.
According to Zacks Investment Research, “Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. The company’s web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients’ shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. Echo Global Logistics, Inc. is headquartered in Chicago, Illinois.” Get a free copy of the Zacks research report on Echo Global Logistics, Inc. (ECHO).