Echo Global Logistics, Inc. (NASDAQ:ECHO) CFO Kyle Sauers sold 20,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $23.92, for a total transaction of $478,400.00. Following the sale, the chief financial officer now directly owns 65,919 shares of the company’s stock, valued at $1,576,782.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $509.50 million during the quarter, compared to analysts’ expectations of $473.44 million. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share.

COPYRIGHT VIOLATION WARNING: “Echo Global Logistics, Inc. (ECHO) CFO Kyle Sauers Sells 20,000 Shares” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/11/01/echo-global-logistics-inc-echo-cfo-kyle-sauers-sells-20000-shares.html.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research 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 research report on Monday. Credit Suisse Group increased their price target on shares of Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Morgan Stanley increased their price target on shares of Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Finally, Stifel Nicolaus increased their price target on shares of Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Two 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’s stock. Echo Global Logistics presently has a consensus rating of “Hold” and a consensus price target of $23.56.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position 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 worth $106,000 after buying an additional 2,341 shares during the period. SG Americas Securities LLC increased its position 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 worth $120,000 after buying an additional 70 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Echo Global Logistics during the first quarter worth approximately $121,000. Municipal Employees Retirement System of Michigan increased its position 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 worth $128,000 after buying an additional 260 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position 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 worth $161,000 after buying an additional 3,139 shares during the period. 86.43% of the stock is currently owned by institutional investors.

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.

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 MarketBeat.com's FREE daily email newsletter.