Equities analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post sales of $694.30 million for the current quarter, according to Zacks. Four analysts have issued estimates for Echo Global Logistics' earnings, with the highest sales estimate coming in at $702.19 million and the lowest estimate coming in at $683.01 million. Echo Global Logistics posted sales of $531.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 30.6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 3rd.
On average, analysts expect that Echo Global Logistics will report full year sales of $2.46 billion for the current year, with estimates ranging from $2.44 billion to $2.47 billion. For the next year, analysts anticipate that the business will post sales of $2.64 billion, with estimates ranging from $2.54 billion to $2.77 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 28th. The transportation company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.29 by $0.11. Echo Global Logistics had a return on equity of 5.13% and a net margin of 0.28%. The business had revenue of $691.50 million for the quarter, compared to the consensus estimate of $601.67 million.
A number of brokerages have commented on ECHO. Barrington Research increased their price objective on shares of Echo Global Logistics from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, November 6th. Morgan Stanley increased their price target on shares of Echo Global Logistics from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Monday, November 2nd. Cowen restated a "buy" rating and issued a $37.00 price objective on shares of Echo Global Logistics in a research report on Thursday, December 24th. Finally, Zacks Investment Research downgraded Echo Global Logistics from a "hold" rating to a "sell" rating in a report on Wednesday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Echo Global Logistics has a consensus rating of "Buy" and a consensus price target of $26.92.
Shares of ECHO stock opened at $27.78 on Friday. The stock's fifty day moving average is $28.22 and its 200-day moving average is $26.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 1.29. Echo Global Logistics has a 52 week low of $14.17 and a 52 week high of $31.23. The stock has a market capitalization of $739.17 million, a PE ratio of 115.75, a PEG ratio of 1.14 and a beta of 1.05.
In other news, CEO Douglas R. Waggoner sold 12,500 shares of Echo Global Logistics stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $27.73, for a total transaction of $346,625.00. Following the transaction, the chief executive officer now owns 274,885 shares in the company, valued at approximately $7,622,561.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David B. Menzel sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $29.33, for a total value of $586,600.00. Insiders sold a total of 33,400 shares of company stock worth $958,065 over the last 90 days. 2.60% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in Echo Global Logistics in the 3rd quarter valued at $35,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Echo Global Logistics by 279.7% in the third quarter. BNP Paribas Arbitrage SA now owns 6,789 shares of the transportation company's stock valued at $175,000 after purchasing an additional 5,001 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Echo Global Logistics by 55.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,125 shares of the transportation company's stock worth $184,000 after buying an additional 2,555 shares during the period. First Trust Advisors LP bought a new position in shares of Echo Global Logistics during the first quarter worth about $208,000. Finally, Cim Investment Mangement Inc. acquired a new stake in Echo Global Logistics in the 3rd quarter valued at approximately $229,000. 95.16% of the stock is owned by institutional investors.
About Echo Global Logistics
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.
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