Echo Global Logistics (ECHO) is Downgraded by UBS to Neutral, Lowers Price Target to $ 24

Echo Global Logistics (ECHO) was Downgraded by UBS to ” Neutral” while Lowering the Price Target of the company shares to $ 24 from a previous price target of $29 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Echo Global Logistics. JP Morgan Initiated Echo Global Logistics on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $31.Company shares were Reiterated by Cowen on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .

On the company’s financial health, Echo Global Logistics reported $0.24 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $0.24. The company had revenue of $405.00 million for the quarter, compared to analysts expectations of $406.45 million. The company’s revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Echo Global Logistics opened for trading at $22.39 and hit $23.11 on the upside on Friday, eventually ending the session at $23.08, with a gain of 4.39% or 0.97 points. The heightened volatility saw the trading volume jump to 2,37,527 shares. Company has a market cap of $696 M.

In a different news, on Mar 11, 2016, Kyle Sauers (Chief Financial Officer) sold 16,765 shares at $25.53 per share price. According to the SEC, on Aug 19, 2015, Douglas R Waggoner (Chief Executive Officer) sold 8,000 shares at $24.99 per share price. On Mar 20, 2015, Bradley A Keywell (director) sold 35,000 shares at $27.17 per share price, according to the Form-4 filing with the securities and exchange commission.

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 provides services across major transportation modes including truckload (TL) less-than-truckload (LTL) small parcel intermodal domestic air and international. 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. It procures transportation and provides logistics services for clients across industries such as manufacturing construction consumer products and retail.

Echo Global Logistics

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