Echo Global Logistics Director Sells $506,250 in Stock (ECHO)
Echo Global Logistics (NASDAQ:ECHO) Director Bradley Keywell unloaded 25,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $20.25, for a total value of $506,250.00. Following the completion of the transaction, the director now directly owns 8,217 shares of the company’s stock, valued at approximately $166,394. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Echo Global Logistics (NASDAQ:ECHO) traded down 0.44% during mid-day trading on Monday, hitting $20.16. 50,569 shares of the company’s stock traded hands. Echo Global Logistics has a 1-year low of $15.50 and a 1-year high of $22.65. The stock has a 50-day moving average of $21.37 and a 200-day moving average of $20.10. The company has a market cap of $473.5 million and a P/E ratio of 36.75.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.17 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.17. The company had revenue of $224.10 million for the quarter, compared to the consensus estimate of $218.20 million. During the same quarter last year, the company posted $0.17 earnings per share. Echo Global Logistics’s revenue was up 21.0% compared to the same quarter last year. Analysts expect that Echo Global Logistics will post $0.79 EPS for the current fiscal year.
A number of analysts have recently weighed in on ECHO shares. Analysts at Barrington Research raised their price target on shares of Echo Global Logistics from $23.00 to $26.00 in a research note to investors on Friday, August 2nd. Separately, analysts at Stifel Nicolaus downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, July 30th. They now have a $21.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of Echo Global Logistics from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $21.80 price target on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.96.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
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