Kyle Sauers Sells 20,000 Shares of Echo Global Logistics, Inc. (ECHO) Stock

Echo Global Logistics, Inc. (NASDAQ:ECHO) CFO Kyle Sauers sold 20,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total transaction of $478,400.00. Following the sale, the chief financial officer now owns 65,919 shares of the company’s stock, valued at $1,576,782.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Echo Global Logistics, Inc. (NASDAQ:ECHO) opened at $23.85 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $28.90. The firm has a market cap of $665.60, a price-to-earnings ratio of 58.17, a P/E/G ratio of 2.77 and a beta of 1.51.

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

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Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in shares of Echo Global Logistics by 77.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock worth $106,000 after buying an additional 2,341 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Echo Global Logistics by 1.3% in the 1st quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after buying an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Echo Global Logistics in the 1st quarter worth about $121,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Echo Global Logistics by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock worth $128,000 after buying an additional 260 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Echo Global Logistics by 63.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock worth $161,000 after buying an additional 3,139 shares during the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a research note on Wednesday, November 1st. Barrington Research reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. Credit Suisse Group raised their price target on shares of Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Morgan Stanley raised their price target on shares of Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Finally, Stifel Nicolaus raised their price target on shares of Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $23.90.

About Echo Global Logistics

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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