Pitcairn Co. grew its holdings in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 30.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,890 shares of the transportation company’s stock after acquiring an additional 3,677 shares during the period. Pitcairn Co.’s holdings in Echo Global Logistics were worth $492,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Echo Global Logistics during the second quarter valued at about $175,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Echo Global Logistics during the second quarter valued at about $182,000. First Trust Advisors LP acquired a new stake in shares of Echo Global Logistics during the third quarter valued at about $213,000. Bowling Portfolio Management LLC acquired a new stake in shares of Echo Global Logistics during the third quarter valued at about $248,000. Finally, First Republic Investment Management Inc. grew its stake in shares of Echo Global Logistics by 27.3% during the second quarter. First Republic Investment Management Inc. now owns 11,176 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 2,394 shares in the last quarter. Institutional investors own 99.40% of the company’s stock.
Shares of ECHO stock opened at $26.04 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.55. Echo Global Logistics, Inc. has a one year low of $23.25 and a one year high of $36.75. The stock has a market cap of $753.08 million, a PE ratio of 39.45, a P/E/G ratio of 0.97 and a beta of 1.84.
In other news, CEO Douglas R. Waggoner sold 5,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $33.03, for a total transaction of $165,150.00. Following the transaction, the chief executive officer now owns 311,532 shares of the company’s stock, valued at $10,289,901.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Thursday, November 1st. Loop Capital raised shares of Echo Global Logistics from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $31.00 in a research report on Monday, October 29th. Barrington Research reduced their price target on shares of Echo Global Logistics from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. UBS Group reduced their price target on shares of Echo Global Logistics from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, Cowen reduced their price target on shares of Echo Global Logistics from $42.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.10.
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Echo Global Logistics Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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