Echo Global Logistics (NASDAQ:ECHO) had its target price hoisted by Stifel Nicolaus from $34.00 to $40.00 in a research report report published on Friday, July 27th. They currently have a buy rating on the transportation company’s stock.
Other analysts have also recently issued reports about the company. Credit Suisse Group upped their target price on Echo Global Logistics from $31.00 to $32.00 and gave the company a neutral rating in a report on Thursday, July 26th. ValuEngine upgraded Echo Global Logistics from a hold rating to a buy rating in a report on Friday, July 20th. Cowen restated an outperform rating and issued a $42.00 target price (up from $40.00) on shares of Echo Global Logistics in a report on Thursday, July 26th. Barrington Research set a $37.00 target price on Echo Global Logistics and gave the company a buy rating in a report on Wednesday, July 25th. Finally, BidaskClub upgraded Echo Global Logistics from a hold rating to a buy rating in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Echo Global Logistics presently has an average rating of Buy and a consensus target price of $34.67.
Echo Global Logistics traded up $0.30, reaching $32.90, during trading hours on Friday, Marketbeat reports. The company had a trading volume of 364,201 shares, compared to its average volume of 542,129. Echo Global Logistics has a 1-year low of $13.25 and a 1-year high of $34.83. The company has a market capitalization of $930.67 million, a PE ratio of 49.85, a PEG ratio of 1.31 and a beta of 1.57. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.57.
In other news, insider Peter Rogers sold 4,501 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $30.25, for a total transaction of $136,155.25. Following the sale, the insider now owns 10,455 shares of the company’s stock, valued at approximately $316,263.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $33.49, for a total value of $200,940.00. Following the sale, the chief financial officer now directly owns 64,287 shares in the company, valued at approximately $2,152,971.63. The disclosure for this sale can be found here. Insiders sold a total of 165,301 shares of company stock worth $5,079,239 in the last ninety days. 3.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA grew its stake in shares of Echo Global Logistics by 820.8% in the 1st quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock valued at $114,000 after purchasing an additional 3,669 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Echo Global Logistics in the 2nd quarter valued at approximately $175,000. Piedmont Investment Advisors LLC purchased a new position in shares of Echo Global Logistics in the 2nd quarter valued at approximately $182,000. Stone Ridge Asset Management LLC purchased a new position in shares of Echo Global Logistics in the 4th quarter valued at approximately $222,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Echo Global Logistics by 392.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 7,523 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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