Barrington analyst Kevin Steinke maintained a Buy rating on Echo Global Logistics (ECHO) today and set a price target of $29. The company’s shares opened today at $23.33.
Steinke observed:
“We maintain our OUTPERFORM investment rating and 12-month price target of $29, which assumes an EV/NTM EBITDA multiple of 9x one year from now, in line with the three-year average multiple. Based on our estimates, the stock currently trades at an EV/NTM EBITDA multiple of 8.3x.”
According to TipRanks.com, Steinke is a 1-star analyst with an average return of -1.4% and a 48.0% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Heidrick & Struggles, and SP Plus Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Echo Global Logistics with a $29 average price target, a 24.3% upside from current levels. In a report issued on April 25, Cowen & Co. also maintained a Buy rating on the stock with a $33 price target.
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Echo Global Logistics’ market cap is currently $642.1M and has a P/E ratio of 24.04. The company has a Price to Book ratio of 1.67.
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Echo Global Logistics, Inc. engages in the provision of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform serving the transportation and logistics needs of its clients.
