Echo Global Logistics’ (ECHO) “Buy” Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Echo Global Logistics (NASDAQ:ECHO) in a research note issued to investors on Friday, Marketbeat reports. Stifel Nicolaus currently has a $31.00 target price on the transportation company’s stock, up from their prior target price of $25.00.
Several other analysts have also commented on the company. Zacks Investment Research raised Echo Global Logistics from a sell rating to a hold rating and set a $27.00 target price on the stock in a report on Wednesday, November 1st. Barrington Research reaffirmed an outperform rating and set a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Credit Suisse Group raised their target price on Echo Global Logistics from $17.00 to $20.00 and gave the stock a neutral rating in a report on Thursday, October 26th. Morgan Stanley raised their target price on Echo Global Logistics from $14.00 to $15.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. Finally, UBS raised their price objective on Echo Global Logistics from $13.00 to $19.00 and gave the company a sell rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Echo Global Logistics currently has an average rating of Hold and a consensus price target of $24.50.
Echo Global Logistics (NASDAQ:ECHO) traded up $0.25 during trading on Friday, reaching $27.45. The company had a trading volume of 289,900 shares, compared to its average volume of 361,356. The firm has a market capitalization of $766.06, a price-to-earnings ratio of 66.95, a price-to-earnings-growth ratio of 3.18 and a beta of 1.55. Echo Global Logistics has a 12-month low of $13.00 and a 12-month high of $28.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40.
In other Echo Global Logistics news, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total value of $2,821,200.00. Following the sale, the director now directly owns 24,346 shares of the company’s stock, valued at $572,374.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $478,400.00. Following the completion of the sale, the chief financial officer now directly owns 65,919 shares in the company, valued at $1,576,782.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,660 shares of company stock worth $6,035,871. 8.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Granahan Investment Management Inc. MA boosted its stake in shares of Echo Global Logistics by 1,669.3% in the third quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after acquiring an additional 793,366 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Echo Global Logistics in the second quarter worth approximately $14,062,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Echo Global Logistics in the third quarter worth approximately $5,942,000. Dimensional Fund Advisors LP boosted its stake in shares of Echo Global Logistics by 20.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after acquiring an additional 309,610 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Echo Global Logistics by 25.1% in the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock worth $27,726,000 after acquiring an additional 279,142 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors.
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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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