Shares of Echo Global Logistics Inc. (NASDAQ:ECHO) traded at a new 52-week high today of $48.36. Approximately 286,000 shares have changed hands today, as compared to an average 30-day volume of 973,000 shares.
Echo Global Logistics Inc. (NASDAQ:ECHO) defies analysts with a current price ($48.14) 65.2% above its average consensus price target of $16.77.
Echo Global Logistics Inc. share prices have moved between a 52-week high of $48.36 and a 52-week low of $25.23 and are now trading 91% above that low price at $48.14 per share.
Founded in 2005, Echo Global Logistics is an asset-light third-party logistics provider primarily focused on domestic truckload and less-than-truckload brokerage. It also offers intermodal and international air and ocean freight forwarding services, though to a lesser degree. Key strategic initiatives include gaining organic market share in the highly fragmented brokerage industry and supplementing its sales capabilities through tuck-in acquisitions. Echo completed its initial public offering in October 2009.
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