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.
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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