KBC Group NV reduced its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 28.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,305 shares of the transportation company’s stock after selling 18,894 shares during the period. KBC Group NV owned about 0.17% of Echo Global Logistics worth $987,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in Echo Global Logistics by 45.8% in the 1st quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock valued at $9,349,000 after buying an additional 118,550 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in Echo Global Logistics during the 1st quarter valued at $1,604,000. Globeflex Capital L P raised its holdings in Echo Global Logistics by 216.8% during the 1st quarter. Globeflex Capital L P now owns 57,891 shares of the transportation company’s stock valued at $1,435,000 after acquiring an additional 39,620 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Echo Global Logistics by 94.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,235 shares of the transportation company’s stock valued at $601,000 after acquiring an additional 11,750 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Echo Global Logistics during the 1st quarter valued at $237,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.
Shares of NASDAQ ECHO traded up $0.20 during trading hours on Friday, hitting $22.94. 1,504 shares of the stock were exchanged, compared to its average volume of 203,129. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $598.30 million, a PE ratio of 14.12, a PEG ratio of 0.99 and a beta of 1.96. Echo Global Logistics, Inc. has a 12 month low of $18.00 and a 12 month high of $36.50. The firm has a fifty day moving average price of $20.30 and a 200-day moving average price of $21.73.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). Echo Global Logistics had a net margin of 1.07% and a return on equity of 11.03%. The business had revenue of $553.78 million during the quarter, compared to analyst estimates of $572.60 million. During the same quarter last year, the company earned $0.46 earnings per share. Echo Global Logistics’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, equities analysts anticipate that Echo Global Logistics, Inc. will post 1.26 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on ECHO shares. Loop Capital cut shares of Echo Global Logistics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $22.00 in a report on Tuesday, July 2nd. BidaskClub upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. Zacks Investment Research lowered shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Morgan Stanley set a $23.00 price target on shares of Echo Global Logistics and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, UBS Group set a $23.00 target price on shares of Echo Global Logistics and gave the stock a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Echo Global Logistics presently has a consensus rating of “Hold” and an average target price of $25.44.
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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