New Buy Rating for Ecolab (ECL), the Basic Materials Giant

In a report released on March 27, Andres Castanos-Mollor from Berenberg Bank maintained a Buy rating on Ecolab, with a price target of $321.00. The company’s shares closed last Friday at $261.37.

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According to TipRanks, Castanos-Mollor is an analyst with an average return of -3.6% and a 40.32% success rate. Castanos-Mollor covers the Basic Materials sector, focusing on stocks such as Ecolab, Sociedad Quimica Y Minera SA, and Albemarle.

Ecolab has an analyst consensus of Strong Buy, with a price target consensus of $323.76, which is a 23.87% upside from current levels. In a report released yesterday, TipRanks – xAI also reiterated a Buy rating on the stock with a $295.00 price target.

Based on Ecolab’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.2 billion and a net profit of $563.9 million. In comparison, last year the company earned a revenue of $4.01 billion and had a net profit of $472.9 million

Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ECL in relation to earlier this year. Last month, Cook Gregory B, the EVP & PRES – INST GROUP of ECL sold 3,519.00 shares for a total of $1,070,655.75.