Intrinsic value of Echo Global Logistics - ECHO

Previous Close

$25.25

  Intrinsic Value

$26.65

stock screener

  Rating & Target

hold

+6%

Previous close

$25.25

 
Intrinsic value

$26.65

 
Up/down potential

+6%

 
Rating

hold

We calculate the intrinsic value of ECHO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  35.00
  32.00
  29.30
  26.87
  24.68
  22.71
  20.94
  19.35
  17.91
  16.62
  15.46
  14.41
  13.47
  12.63
  11.86
  11.18
  10.56
  10.00
  9.50
  9.05
  8.65
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
Revenue, $m
  2,623
  3,463
  4,477
  5,680
  7,082
  8,691
  10,511
  12,545
  14,792
  17,251
  19,918
  22,789
  25,859
  29,124
  32,579
  36,220
  40,045
  44,051
  48,237
  52,603
  57,152
  61,886
  66,808
  71,925
  77,242
  82,768
  88,511
  94,481
  100,688
  107,145
Variable operating expenses, $m
  2,569
  3,377
  4,355
  5,513
  6,864
  8,413
  10,166
  12,125
  14,289
  16,657
  19,184
  21,949
  24,906
  28,050
  31,378
  34,885
  38,569
  42,427
  46,459
  50,664
  55,045
  59,604
  64,346
  69,274
  74,395
  79,717
  85,248
  90,998
  96,976
  103,195
Fixed operating expenses, $m
  10
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  14
  15
  15
  15
  16
  16
  16
  17
  17
  18
  18
  18
  19
  19
Total operating expenses, $m
  2,579
  3,387
  4,366
  5,524
  6,875
  8,424
  10,178
  12,137
  14,301
  16,669
  19,197
  21,962
  24,919
  28,064
  31,392
  34,899
  38,583
  42,442
  46,474
  50,679
  55,061
  59,620
  64,362
  69,291
  74,412
  79,735
  85,266
  91,016
  96,995
  103,214
Operating income, $m
  44
  75
  112
  156
  207
  266
  333
  408
  491
  581
  722
  827
  940
  1,060
  1,187
  1,321
  1,462
  1,609
  1,763
  1,924
  2,091
  2,265
  2,446
  2,634
  2,830
  3,033
  3,245
  3,464
  3,693
  3,930
EBITDA, $m
  111
  150
  197
  252
  317
  391
  475
  569
  673
  787
  910
  1,043
  1,185
  1,336
  1,495
  1,664
  1,841
  2,026
  2,220
  2,422
  2,632
  2,851
  3,079
  3,315
  3,561
  3,817
  4,083
  4,359
  4,646
  4,945
Interest expense (income), $m
  7
  15
  27
  42
  59
  80
  105
  133
  165
  201
  240
  283
  330
  380
  434
  491
  552
  616
  683
  753
  826
  903
  982
  1,065
  1,151
  1,241
  1,334
  1,431
  1,532
  1,636
  1,745
Earnings before tax, $m
  29
  48
  70
  97
  127
  161
  200
  243
  290
  341
  438
  497
  560
  626
  696
  769
  846
  926
  1,010
  1,098
  1,188
  1,283
  1,381
  1,483
  1,589
  1,699
  1,814
  1,933
  2,056
  2,185
Tax expense, $m
  8
  13
  19
  26
  34
  44
  54
  66
  78
  92
  118
  134
  151
  169
  188
  208
  228
  250
  273
  296
  321
  346
  373
  400
  429
  459
  490
  522
  555
  590
Net income, $m
  21
  35
  51
  71
  93
  118
  146
  177
  212
  249
  320
  363
  409
  457
  508
  562
  618
  676
  737
  801
  868
  936
  1,008
  1,083
  1,160
  1,240
  1,324
  1,411
  1,501
  1,595

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,132
  1,494
  1,931
  2,450
  3,055
  3,749
  4,534
  5,412
  6,381
  7,442
  8,593
  9,831
  11,156
  12,564
  14,055
  15,626
  17,276
  19,004
  20,810
  22,693
  24,656
  26,698
  28,822
  31,029
  33,323
  35,707
  38,184
  40,759
  43,437
  46,223
Adjusted assets (=assets-cash), $m
  1,132
  1,494
  1,931
  2,450
  3,055
  3,749
  4,534
  5,412
  6,381
  7,442
  8,593
  9,831
  11,156
  12,564
  14,055
  15,626
  17,276
  19,004
  20,810
  22,693
  24,656
  26,698
  28,822
  31,029
  33,323
  35,707
  38,184
  40,759
  43,437
  46,223
Revenue / Adjusted assets
  2.317
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
  2.318
Average production assets, $m
  372
  492
  636
  807
  1,006
  1,234
  1,493
  1,781
  2,100
  2,450
  2,828
  3,236
  3,672
  4,136
  4,626
  5,143
  5,686
  6,255
  6,850
  7,470
  8,116
  8,788
  9,487
  10,213
  10,968
  11,753
  12,569
  13,416
  14,298
  15,215
Working capital, $m
  123
  163
  210
  267
  333
  408
  494
  590
  695
  811
  936
  1,071
  1,215
  1,369
  1,531
  1,702
  1,882
  2,070
  2,267
  2,472
  2,686
  2,909
  3,140
  3,380
  3,630
  3,890
  4,160
  4,441
  4,732
  5,036
Total debt, $m
  379
  586
  837
  1,133
  1,479
  1,876
  2,325
  2,827
  3,382
  3,989
  4,647
  5,355
  6,113
  6,918
  7,771
  8,670
  9,613
  10,602
  11,635
  12,712
  13,835
  15,003
  16,218
  17,480
  18,792
  20,156
  21,573
  23,046
  24,578
  26,171
Total liabilities, $m
  647
  854
  1,105
  1,402
  1,748
  2,145
  2,594
  3,096
  3,650
  4,257
  4,915
  5,623
  6,381
  7,187
  8,039
  8,938
  9,882
  10,870
  11,903
  12,981
  14,103
  15,271
  16,486
  17,749
  19,061
  20,424
  21,841
  23,314
  24,846
  26,440
Total equity, $m
  484
  639
  827
  1,049
  1,308
  1,605
  1,941
  2,316
  2,731
  3,185
  3,678
  4,208
  4,775
  5,378
  6,015
  6,688
  7,394
  8,134
  8,907
  9,713
  10,553
  11,427
  12,336
  13,280
  14,262
  15,282
  16,343
  17,445
  18,591
  19,783
Total liabilities and equity, $m
  1,131
  1,493
  1,932
  2,451
  3,056
  3,750
  4,535
  5,412
  6,381
  7,442
  8,593
  9,831
  11,156
  12,565
  14,054
  15,626
  17,276
  19,004
  20,810
  22,694
  24,656
  26,698
  28,822
  31,029
  33,323
  35,706
  38,184
  40,759
  43,437
  46,223
Debt-to-equity ratio
  0.780
  0.920
  1.010
  1.080
  1.130
  1.170
  1.200
  1.220
  1.240
  1.250
  1.260
  1.270
  1.280
  1.290
  1.290
  1.300
  1.300
  1.300
  1.310
  1.310
  1.310
  1.310
  1.310
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
Adjusted equity ratio
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  21
  35
  51
  71
  93
  118
  146
  177
  212
  249
  320
  363
  409
  457
  508
  562
  618
  676
  737
  801
  868
  936
  1,008
  1,083
  1,160
  1,240
  1,324
  1,411
  1,501
  1,595
Depreciation, amort., depletion, $m
  67
  75
  85
  96
  110
  125
  142
  161
  183
  206
  189
  216
  245
  276
  308
  343
  379
  417
  457
  498
  541
  586
  632
  681
  731
  784
  838
  894
  953
  1,014
Funds from operations, $m
  88
  110
  136
  167
  202
  243
  288
  339
  394
  455
  509
  579
  653
  733
  816
  904
  997
  1,093
  1,194
  1,299
  1,409
  1,522
  1,641
  1,763
  1,891
  2,024
  2,162
  2,305
  2,454
  2,610
Change in working capital, $m
  32
  39
  48
  57
  66
  76
  86
  96
  106
  116
  125
  135
  144
  153
  162
  171
  180
  188
  197
  205
  214
  222
  231
  240
  250
  260
  270
  281
  292
  303
Cash from operations, $m
  57
  71
  88
  110
  136
  167
  203
  243
  289
  339
  383
  444
  509
  579
  654
  733
  817
  905
  997
  1,094
  1,195
  1,300
  1,409
  1,523
  1,641
  1,764
  1,892
  2,025
  2,163
  2,306
Maintenance CAPEX, $m
  -18
  -25
  -33
  -42
  -54
  -67
  -82
  -100
  -119
  -140
  -163
  -189
  -216
  -245
  -276
  -308
  -343
  -379
  -417
  -457
  -498
  -541
  -586
  -632
  -681
  -731
  -784
  -838
  -894
  -953
New CAPEX, $m
  -96
  -119
  -144
  -171
  -199
  -228
  -258
  -289
  -319
  -349
  -379
  -408
  -436
  -464
  -491
  -517
  -543
  -569
  -594
  -620
  -646
  -672
  -699
  -727
  -755
  -785
  -815
  -848
  -881
  -917
Cash from investing activities, $m
  -114
  -144
  -177
  -213
  -253
  -295
  -340
  -389
  -438
  -489
  -542
  -597
  -652
  -709
  -767
  -825
  -886
  -948
  -1,011
  -1,077
  -1,144
  -1,213
  -1,285
  -1,359
  -1,436
  -1,516
  -1,599
  -1,686
  -1,775
  -1,870
Free cash flow, $m
  -58
  -73
  -88
  -103
  -117
  -128
  -138
  -145
  -149
  -150
  -159
  -153
  -143
  -129
  -112
  -92
  -69
  -43
  -14
  17
  51
  87
  124
  164
  205
  248
  293
  339
  387
  436
Issuance/(repayment) of debt, $m
  168
  207
  250
  297
  346
  397
  449
  502
  555
  607
  658
  708
  758
  806
  853
  899
  944
  988
  1,033
  1,078
  1,122
  1,168
  1,215
  1,263
  1,312
  1,364
  1,417
  1,473
  1,532
  1,593
Issuance/(repurchase) of shares, $m
  104
  120
  136
  152
  166
  179
  190
  198
  203
  205
  172
  167
  158
  146
  130
  111
  89
  63
  35
  5
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  272
  327
  386
  449
  512
  576
  639
  700
  758
  812
  830
  875
  916
  952
  983
  1,010
  1,033
  1,051
  1,068
  1,083
  1,122
  1,168
  1,215
  1,263
  1,312
  1,364
  1,417
  1,473
  1,532
  1,593
Total cash flow (excl. dividends), $m
  214
  254
  298
  345
  396
  448
  501
  555
  609
  662
  672
  723
  773
  822
  870
  917
  963
  1,009
  1,054
  1,100
  1,173
  1,255
  1,339
  1,427
  1,517
  1,612
  1,710
  1,812
  1,919
  2,029
Retained Cash Flow (-), $m
  -125
  -155
  -187
  -222
  -259
  -297
  -336
  -376
  -415
  -454
  -492
  -530
  -567
  -603
  -638
  -672
  -706
  -740
  -773
  -806
  -840
  -874
  -909
  -945
  -982
  -1,020
  -1,060
  -1,102
  -1,146
  -1,192
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  89
  99
  111
  123
  137
  151
  165
  179
  194
  208
  179
  193
  206
  220
  232
  245
  257
  269
  281
  294
  333
  381
  430
  482
  536
  592
  650
  710
  772
  837
Discount rate, %
  6.00
  6.30
  6.62
  6.95
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.78
  11.31
  11.88
  12.47
  13.10
  13.75
  14.44
  15.16
  15.92
  16.72
  17.55
  18.43
  19.35
  20.32
  21.33
  22.40
  23.52
  24.70
PV of cash for distribution, $m
  84
  88
  91
  94
  96
  97
  96
  94
  90
  85
  64
  60
  55
  49
  43
  37
  32
  26
  22
  17
  15
  13
  10
  8
  6
  5
  4
  2
  2
  1
Current shareholders' claim on cash, %
  87.4
  77.8
  70.3
  64.4
  59.7
  55.9
  52.8
  50.2
  48.1
  46.4
  45.2
  44.2
  43.4
  42.7
  42.2
  41.8
  41.6
  41.4
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3
  41.3

Echo Global Logistics, Inc. is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services. The Company focuses primarily on arranging transportation by truckload (TL) and less than truckload (LTL) carriers. It also offers intermodal (which involves moving a shipment by rail and truck), small parcel, domestic air, expedited and international transportation services. The Company's core logistics services include rate negotiation, shipment execution and tracking, carrier selection and management, routing compliance freight bill payment and audit, payment and performance management and reporting functions.

FINANCIAL RATIOS  of  Echo Global Logistics (ECHO)

Valuation Ratios
P/E Ratio 355.1
Price to Sales 0.4
Price to Book 2
Price to Tangible Book
Price to Cash Flow 11.8
Price to Free Cash Flow 54.6
Growth Rates
Sales Growth Rate 13.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 213.3%
Cap. Spend. - 3 Yr. Gr. Rate 39.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 57%
Total Debt to Equity 57%
Interest Coverage 1
Management Effectiveness
Return On Assets 2.1%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital 0.3%
Ret/ On T. Cap. - 3 Yr. Avg. 4.1%
Return On Equity 0.5%
Return On Equity - 3 Yr. Avg. 4.4%
Asset Turnover 2.3
Profitability Ratios
Gross Margin 18.6%
Gross Margin - 3 Yr. Avg. 18.5%
EBITDA Margin 2.3%
EBITDA Margin - 3 Yr. Avg. 2.8%
Operating Margin 0.9%
Oper. Margin - 3 Yr. Avg. 1.6%
Pre-Tax Margin 0.1%
Pre-Tax Margin - 3 Yr. Avg. 1.1%
Net Profit Margin 0.1%
Net Profit Margin - 3 Yr. Avg. 0.7%
Effective Tax Rate -100%
Eff/ Tax Rate - 3 Yr. Avg. -9.9%
Payout Ratio 0%

ECHO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ECHO stock intrinsic value calculation we used $1943.086 million for the last fiscal year's total revenue generated by Echo Global Logistics. The default revenue input number comes from 0001 income statement of Echo Global Logistics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ECHO stock valuation model: a) initial revenue growth rate of 35% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6%, whose default value for ECHO is calculated based on our internal credit rating of Echo Global Logistics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Echo Global Logistics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ECHO stock the variable cost ratio is equal to 98.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $10 million in the base year in the intrinsic value calculation for ECHO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.1% for Echo Global Logistics.

Corporate tax rate of 27% is the nominal tax rate for Echo Global Logistics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ECHO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ECHO are equal to 14.2%.

Life of production assets of 15 years is the average useful life of capital assets used in Echo Global Logistics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ECHO is equal to 4.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $358.872 million for Echo Global Logistics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 28.548 million for Echo Global Logistics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Echo Global Logistics at the current share price and the inputted number of shares is $0.7 billion.

RELATED COMPANIES Price Int.Val. Rating
XPO XPO Logistics 81.03 204.49  str.buy
EXPD Expeditors Int 71.73 71.05  hold
CHRW C.H. Robinson 89.61 106.25  hold
RLGT Radiant Logist 5.69 3.50  hold
PATI Patriot Transp 20.70 18.25  hold

COMPANY NEWS

▶ Echo Global Logistics: 3Q Earnings Snapshot   [07:05PM  Associated Press]
▶ Stock Indexes Hold At Key Levels As This Dow Component Hits Buy Point   [Jul-31-18 01:39PM  Investor's Business Daily]
▶ Echo Global Logistics: 2Q Earnings Snapshot   [Jul-25-18 05:17PM  Associated Press]
▶ 5 Stocks to Pop on Fourth of July Celebrations   [Jul-03-18 09:10AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for July 2nd   [Jul-02-18 10:32AM  Zacks]
▶ Why Echo Global Logistics Inc (NASDAQ:ECHO) Could Be A Buy   [Jun-22-18 01:27PM  Simply Wall St.]
▶ 5 Top-Ranked Small Caps to Buy as Trade Tensions Escalate   [Jun-11-18 12:45PM  InvestorPlace]
▶ Echo Global Logistics Ranks #969 in Fortune 1000   [Jun-07-18 04:01PM  GlobeNewswire]
▶ 5 Stocks to Skyrocket on Record Memorial Day Travel   [May-16-18 11:25AM  InvestorPlace]
▶ April Breaks Two Months of Losses for Stocks   [May-01-18 09:15AM  Zacks]
▶ Echo Global Logistics: 1Q Earnings Snapshot   [Apr-25-18 05:26PM  Associated Press]
▶ Freight Brokers See Profits Surge on Shipping Rush   [Feb-09-18 10:00AM  The Wall Street Journal]
▶ Echo Global Logistics beats Street 4Q forecasts   [Feb-07-18 05:47PM  Associated Press]
▶ Will Digital Freight Apps Kill Truck Brokers?   [Jan-24-18 07:00AM  Morningstar]
▶ Stocks Showing Market Leadership: Echo Global Logistics Earns 92 RS Rating   [Oct-30-17 03:00AM  Investor's Business Daily]
▶ Echo Global Logistics beats Street 3Q forecasts   [Oct-25-17 05:39PM  Associated Press]
▶ Echo Global Logistics reports 2Q loss   [Jul-27-17 10:07PM  Associated Press]

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