Stifel Financial Corp lifted its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 45.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,509 shares of the transportation company’s stock after buying an additional 7,348 shares during the period. Stifel Financial Corp owned approximately 0.08% of Echo Global Logistics worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in shares of Echo Global Logistics by 77.3% in the 2nd 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 last quarter. SG Americas Securities LLC boosted its stake in shares of Echo Global Logistics by 1.3% in the 1st 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 last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Echo Global Logistics in the 1st quarter worth $121,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Echo Global Logistics by 4.2% in the 2nd 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 last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Echo Global Logistics by 63.3% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

A number of equities analysts have recently issued reports on ECHO shares. Macquarie restated an “outperform” rating and issued a $29.00 price target on shares of Echo Global Logistics in a research note on Monday, July 10th. Stifel Nicolaus restated a “buy” rating on shares of Echo Global Logistics in a research note on Wednesday, July 19th. BidaskClub downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. UBS AG downgraded Echo Global Logistics from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $22.00 to $13.00 in a research note on Friday, July 28th. Finally, ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.56.

COPYRIGHT VIOLATION WARNING: “Stifel Financial Corp Grows Stake in Echo Global Logistics, Inc. (ECHO)” was reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://theolympiareport.com/2017/11/01/stifel-financial-corp-grows-stake-in-echo-global-logistics-inc-echo.html.

Echo Global Logistics, Inc. (ECHO) opened at 24.05 on Wednesday. The company’s market capitalization is $686.24 million. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $28.90. The company has a 50-day moving average price of $19.17 and a 200-day moving average price of $18.13.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The company had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts expect that Echo Global Logistics, Inc. will post $0.69 earnings per share for the current fiscal year.

About Echo Global Logistics

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.

Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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.