Echo Global Logistics, Inc. (NASDAQ:ECHO) Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total value of $2,821,200.00. Following the transaction, the director now directly owns 24,346 shares in the company, valued at $572,374.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Echo Global Logistics, Inc. (ECHO) traded down $0.90 during mid-day trading on Friday, reaching $23.20. The company had a trading volume of 471,935 shares, compared to its average volume of 592,923. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market cap of $664.20 million, a P/E ratio of 58.05, a PEG ratio of 2.76 and a beta of 1.51.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $473.44 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. research analysts expect that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in Echo Global Logistics by 77.3% during the second quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock valued at $106,000 after buying an additional 2,341 shares in the last quarter. SG Americas Securities LLC boosted its stake in Echo Global Logistics by 1.3% during the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after buying an additional 70 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Echo Global Logistics during the first quarter valued at about $121,000. Municipal Employees Retirement System of Michigan boosted its stake in Echo Global Logistics by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock valued at $128,000 after buying an additional 260 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Echo Global Logistics by 63.3% during the second quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock valued at $161,000 after buying an additional 3,139 shares in the last quarter. 86.43% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a report on Wednesday. Barrington Research reissued an “outperform” rating and set a $26.00 price target (up from $18.00) on shares of Echo Global Logistics in a report on Monday. Macquarie reissued an “outperform” rating and set a $29.00 price target on shares of Echo Global Logistics in a report on Monday, July 10th. UBS Group AG (USA) raised their price target on Echo Global Logistics from $13.00 to $19.00 and gave the company a “sell” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus raised their price target on Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.90.

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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