Echo Global Logistics Major Shareholder Eric Lefkofsky Sells 50,000 Shares (ECHO)
Echo Global Logistics (NASDAQ:ECHO) major shareholder Eric Lefkofsky sold 50,000 shares of Echo Global Logistics stock on the open market in a transaction dated Friday, January 3rd. The shares were sold at an average price of $20.62, for a total transaction of $1,031,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on ECHO. Analysts at Cowen and Company initiated coverage on shares of Echo Global Logistics in a research note to investors on Thursday, November 14th. They set an “outperform” rating and a $23.00 price target on the stock. Separately, analysts at Barrington Research cut their price target on shares of Echo Global Logistics from $26.00 to $22.00 in a research note to investors on Monday, November 4th. Finally, analysts at FBR & Co. downgraded shares of Echo Global Logistics from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.95.
Shares of Echo Global Logistics (NASDAQ:ECHO) remained flat at $20.65 during trading on Monday. The stock had a trading volume of 76,440 shares. Echo Global Logistics has a 1-year low of $16.99 and a 1-year high of $22.65. The stock’s 50-day moving average is $20.38 and its 200-day moving average is $20.47. The company has a market cap of $484.6 million and a P/E ratio of 32.27.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $234.80 million for the quarter, compared to the consensus estimate of $238.97 million. During the same quarter last year, the company posted $0.17 earnings per share. Echo Global Logistics’s revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that Echo Global Logistics will post $0.68 earnings per share for the current fiscal year.
Echo Global Logistics, Inc (NASDAQ:ECHO) is a provider of technology enabled transportation and supply chain management services.
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