Echo Global Logistics (ECHO) Sets New 1-Year High at $28.80

Echo Global Logistics, Inc. (NASDAQ:ECHO)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $28.80 and last traded at $27.55, with a volume of 1020000 shares. The stock had previously closed at $27.55.

A number of research firms have issued reports on ECHO. Morgan Stanley lifted their price objective on shares of Echo Global Logistics from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Cowen reiterated a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a research note on Wednesday, October 4th. ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Macquarie cut Echo Global Logistics from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Echo Global Logistics currently has an average rating of “Hold” and an average target price of $23.89.

The company has a market capitalization of $825.68, a P/E ratio of -219.62, a P/E/G ratio of 3.20 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.40.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The business had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $473.44 million. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. sell-side analysts expect that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current fiscal year.

In related news, COO David B. Menzel sold 30,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the sale, the chief operating officer now directly owns 180,322 shares in the company, valued at approximately $4,426,905.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kyle Sauers sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $23.92, for a total value of $478,400.00. Following the completion of the sale, the chief financial officer now owns 65,919 shares in the company, valued at $1,576,782.48. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock worth $6,035,871 over the last 90 days. 8.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ECHO. Granahan Investment Management Inc. MA raised its stake in Echo Global Logistics by 1,669.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock valued at $15,851,000 after acquiring an additional 793,366 shares during the period. Janus Henderson Group PLC purchased a new position in Echo Global Logistics during the 2nd quarter valued at about $14,062,000. Kornitzer Capital Management Inc. KS purchased a new position in Echo Global Logistics during the 3rd quarter valued at about $5,942,000. Dimensional Fund Advisors LP grew its holdings in Echo Global Logistics by 20.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock valued at $35,960,000 after buying an additional 309,610 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Echo Global Logistics by 25.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after buying an additional 279,142 shares in the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

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Echo Global Logistics Company Profile

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.

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