Ecolab Inc. (NYSE:ECL)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a report issued on Monday, September 11th. They currently have a $145.00 price target on the basic materials company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 10.74% from the stock’s current price.
Other equities analysts have also issued research reports about the company. BidaskClub upgraded Ecolab from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and set a $130.00 price objective on shares of Ecolab in a research note on Wednesday, August 16th. UBS AG reiterated a “buy” rating and issued a $147.00 price target (up previously from $144.00) on shares of Ecolab in a research note on Tuesday, August 8th. J P Morgan Chase & Co upgraded Ecolab from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $138.00 in a research note on Friday, May 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $133.93.
Ecolab (NYSE:ECL) traded up 0.35% on Monday, reaching $131.40. 168,265 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $131.25 and its 200 day moving average is $129.52. Ecolab has a 1-year low of $110.65 and a 1-year high of $134.89. The stock has a market capitalization of $38.02 billion, a P/E ratio of 30.04 and a beta of 0.99.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts expect that Ecolab will post $4.74 EPS for the current year.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of Ecolab stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $132.57 per share, with a total value of $10,009,035.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Ecolab in the first quarter valued at approximately $134,000. BNP Paribas Arbitrage SA lifted its stake in Ecolab by 269.4% in the first quarter. BNP Paribas Arbitrage SA now owns 191,189 shares of the basic materials company’s stock valued at $23,964,000 after purchasing an additional 139,434 shares during the last quarter. Alps Advisors Inc. lifted its stake in Ecolab by 21.3% in the second quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 375 shares during the last quarter. Courier Capital LLC purchased a new position in Ecolab in the second quarter valued at approximately $282,000. Finally, State Street Corp lifted its stake in Ecolab by 0.3% in the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after purchasing an additional 31,277 shares during the last quarter. Institutional investors and hedge funds 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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