Echo Global Logistics COO Unloads $434,600 in Stock (ECHO)
Echo Global Logistics (NASDAQ:ECHO) COO David B. Menzel sold 20,000 shares of the stock on the open market in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $21.73, for a total transaction of $434,600.00. Following the transaction, the chief operating officer now directly owns 152,705 shares of the company’s stock, valued at approximately $3,318,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Barrington Research raised their price target on shares of Echo Global Logistics from $21.00 to $25.00 in a research note on Thursday. Separately, analysts at Zacks upgraded shares of Echo Global Logistics from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $22.20 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Echo Global Logistics from $22.00 to $28.00 in a research note on Friday, July 25th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Echo Global Logistics presently has an average rating of “Buy” and a consensus target price of $23.46.
Shares of Echo Global Logistics (NASDAQ:ECHO) traded down 0.14% during mid-day trading on Friday, hitting $21.98. The stock had a trading volume of 275,456 shares. Echo Global Logistics has a 1-year low of $15.54 and a 1-year high of $22.65. The stock’s 50-day moving average is $19.7 and its 200-day moving average is $18.55. The company has a market cap of $518.2 million and a price-to-earnings ratio of 37.31.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.04. The company had revenue of $305.10 million for the quarter, compared to the consensus estimate of $276.73 million. During the same quarter last year, the company posted $0.17 earnings per share. Echo Global Logistics’s revenue was up 36.1% compared to the same quarter last year. On average, analysts predict that Echo Global Logistics will post $0.77 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.
Receive News & Ratings for Echo Global Logistics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.