Echo Global Logistics, Inc. (NASDAQ:ECHO) shares were down 5.7% during trading on Thursday . The company traded as low as $26.40 and last traded at $26.50. Approximately 796,238 shares traded hands during mid-day trading, an increase of 119% from the average daily volume of 363,677 shares. The stock had previously closed at $28.10.

ECHO has been the topic of a number of recent research reports. Cowen reaffirmed a “buy” rating and set a $19.00 price objective on shares of Echo Global Logistics in a research note on Friday, September 1st. ValuEngine cut Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price objective on shares of Echo Global Logistics in a research note on Tuesday, September 12th. Zacks Investment Research raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, J P Morgan Chase & Co raised their price objective on Echo Global Logistics from $19.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Two 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. The company currently has a consensus rating of “Hold” and a consensus price target of $24.50.

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $739.55, a price-to-earnings ratio of 64.63, a P/E/G ratio of 3.07 and a beta of 1.55.

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

In related news, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total transaction of $2,821,200.00. Following the completion of the sale, the director now owns 24,346 shares of the company’s stock, valued at $572,374.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $23.92, for a total transaction of $478,400.00. Following the sale, the chief financial officer now directly owns 65,919 shares of the company’s stock, valued at approximately $1,576,782.48. The disclosure for this sale can be found here. Insiders sold 253,660 shares of company stock valued at $6,035,871 over the last 90 days. 8.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ECHO. Schwab Charles Investment Management Inc. increased its position in shares of Echo Global Logistics by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 163,155 shares of the transportation company’s stock valued at $3,484,000 after acquiring an additional 10,726 shares in the last quarter. State Street Corp grew its position in Echo Global Logistics by 1.2% in the 1st quarter. State Street Corp now owns 727,918 shares of the transportation company’s stock worth $15,540,000 after purchasing an additional 8,351 shares during the period. Louisiana State Employees Retirement System grew its position in Echo Global Logistics by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock worth $223,000 after purchasing an additional 100 shares during the period. Municipal Employees Retirement System of Michigan grew its position in 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 purchasing an additional 260 shares during the period. Finally, Texas Permanent School Fund grew its position in Echo Global Logistics by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock worth $398,000 after purchasing an additional 214 shares during the period. 95.08% of the stock is owned by institutional investors.

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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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