Ecolab Inc. (NYSE:ECL)‘s stock had its “neutral” rating reaffirmed by equities researchers at Instinet in a research note issued to investors on Tuesday, September 12th. They currently have a $117.00 target price on the basic materials company’s stock, down from their prior target price of $120.00. Instinet’s target price would indicate a potential downside of 10.91% from the company’s current price.
ECL has been the topic of several other reports. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 price objective (up previously from $133.00) on shares of Ecolab in a research note on Friday, June 2nd. Royal Bank Of Canada lifted their price objective on shares of Ecolab from $134.00 to $137.00 and gave the company an “outperform” rating in a research note on Tuesday, September 12th. Credit Suisse Group reaffirmed a “hold” rating on shares of Ecolab in a research note on Wednesday, September 6th. Finally, Deutsche Bank AG lifted their price objective on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $133.93.
Shares of Ecolab (NYSE ECL) traded up 0.30% during mid-day trading on Tuesday, hitting $131.33. The stock had a trading volume of 761,922 shares. The stock has a 50 day moving average price of $131.25 and a 200-day moving average price of $129.52. Ecolab has a 52-week low of $110.65 and a 52-week high of $134.89. The company has a market cap of $38.00 billion, a PE ratio of 30.03 and a beta of 0.99.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company posted $1.08 EPS. Ecolab’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Ecolab will post $4.74 earnings per share for the current fiscal year.
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In other Ecolab news, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder William H. Gates III bought 75,500 shares of Ecolab stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $132.57 per share, for a total transaction of $10,009,035.00. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of Ecolab by 60.0% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 300 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in shares of Ecolab by 4.8% during the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 35 shares in the last quarter. Atlantic Trust LLC acquired a new position in Ecolab in the second quarter valued at approximately $106,000. JNBA Financial Advisors lifted its holdings in Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in Ecolab by 4.9% in the second quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock valued at $116,000 after buying an additional 38 shares during the period. Institutional investors own 75.42% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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