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Why Echo Global Logistics (ECHO) Could Be Positioned for a Surge

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Echo Global Logistics, Inc. (ECHO - Free Report) is a leading provider of technology enabled transportation and supply chain management services that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ECHO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Echo Global Logistics could be a solid choice for investors.

Current Quarter Estimates for ECHO

In the past 30 days, five estimates have gone higher for Echo Global Logistics while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 11 cents a share 30 days ago, to 18 cents today, a move of 63.6%.

Current Year Estimates for ECHO

Meanwhile, Echo Global Logistics’ current year figures are also looking quite promising, with six estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 59 cents per share 30 days ago to 70 cents per share today, an increase of 18.6%.

Echo Global Logistics, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 23.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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