Could Echo Global Logistics, Inc. (ECHO) Change Direction After Reaching 52-Week High?

January 14, 2018 - By reb123z

Investors sentiment increased to 1.17 in 2017 Q3. Its up 0.08, from 1.09 in 2017Q2. It improved, as 18 investors sold Echo Global Logistics, Inc. shares while 36 reduced holdings. 21 funds opened positions while 42 raised stakes. 25.35 million shares or 4.42% more from 24.27 million shares in 2017Q2 were reported.
Teachers Retirement System Of The State Of Kentucky invested 0% in Echo Global Logistics, Inc. (NASDAQ:ECHO). Aperio Grp Inc Ltd Company holds 15,583 shares or 0% of its portfolio. Kbc Group Inc Nv, Belgium-based fund reported 3,622 shares. Morgan Stanley holds 0% or 66,890 shares. Voya Mgmt Lc has invested 0% in Echo Global Logistics, Inc. (NASDAQ:ECHO). Barclays Pcl owns 75,726 shares or 0% of their US portfolio. Prtn Limited Liability Corporation has invested 0.08% of its portfolio in Echo Global Logistics, Inc. (NASDAQ:ECHO). Northern Tru Corporation invested in 0% or 611,022 shares. Glg Ptnrs L P invested in 17,900 shares. Rhumbline Advisers stated it has 0% in Echo Global Logistics, Inc. (NASDAQ:ECHO). Metropolitan Life Com Ny invested 0% in Echo Global Logistics, Inc. (NASDAQ:ECHO). 1,007 are owned by Ls Investment Advsrs Ltd Liability. Citigroup has 92,796 shares. Inv Of Virginia Ltd Com stated it has 0.71% of its portfolio in Echo Global Logistics, Inc. (NASDAQ:ECHO). Wisconsin-based North Star Asset Mngmt has invested 0.94% in Echo Global Logistics, Inc. (NASDAQ:ECHO).

The stock of Echo Global Logistics, Inc. (NASDAQ:ECHO) hit a new 52-week high and has $31.66 target or 9.00 % above today’s $29.05 share price. The 6 months bullish chart indicates low risk for the $810.72M company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $31.66 price target is reached, the company will be worth $72.96M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.52% or $0.15 during the last trading session, reaching $29.05. About 224,583 shares traded. Echo Global Logistics, Inc. (NASDAQ:ECHO) has declined 17.14% since January 14, 2017 and is downtrending. It has underperformed by 33.84% the S&P500.

Analysts await Echo Global Logistics, Inc. (NASDAQ:ECHO) to report earnings on February, 14. They expect $0.14 EPS, up 366.67 % or $0.11 from last year’s $0.03 per share. ECHO’s profit will be $3.91 million for 51.88 P/E if the $0.14 EPS becomes a reality. After $0.23 actual EPS reported by Echo Global Logistics, Inc. for the previous quarter, Wall Street now forecasts -39.13 % negative EPS growth.

Echo Global Logistics, Inc. (NASDAQ:ECHO) Ratings Coverage

Among 15 analysts covering Echo Global Logistics (NASDAQ:ECHO), 9 have Buy rating, 2 Sell and 4 Hold. Therefore 60% are positive. Echo Global Logistics has $34.0 highest and $14 lowest target. $25.75’s average target is -11.36% below currents $29.05 stock price. Echo Global Logistics had 36 analyst reports since August 11, 2015 according to SRatingsIntel. JP Morgan maintained the stock with “Overweight” rating in Thursday, October 12 report. On Friday, September 4 the stock rating was downgraded by TheStreet to “Hold”. The rating was initiated by JP Morgan on Monday, July 11 with “Overweight”. The company was downgraded on Monday, July 11 by UBS. The firm has “Hold” rating by Macquarie Research given on Thursday, December 14. The company was upgraded on Tuesday, August 18 by Stifel Nicolaus. The stock of Echo Global Logistics, Inc. (NASDAQ:ECHO) has “Market Outperform” rating given on Friday, January 8 by Avondale. Stifel Nicolaus maintained Echo Global Logistics, Inc. (NASDAQ:ECHO) rating on Monday, September 11. Stifel Nicolaus has “Buy” rating and $18.0 target. The rating was maintained by Susquehanna on Monday, January 8 with “Buy”. The rating was maintained by Barrington Research on Friday, August 28 with “Outperform”.

More recent Echo Global Logistics, Inc. (NASDAQ:ECHO) news were published by: Valuewalk.com which released: “Spruce Point Re-Establishes Short Position In Echo Global Logistics, Inc. (ECHO)” on December 21, 2017. Also Seekingalpha.com published the news titled: “Echo Global Logistics’ (ECHO) CEO Doug Waggoner on Q3 2017 Results – Earnings …” on October 26, 2017. Globenewswire.com‘s news article titled: “Echo Global Logistics Third Quarter 2017 Earnings Release and Conference Call …” with publication date: October 09, 2017 was also an interesting one.

Echo Global Logistics, Inc. provides technology-enabled transportation and supply chain management solutions in the United States. The company has market cap of $810.72 million. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. It currently has negative earnings. The firm offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

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