Ecolab (ECL): New Buy Recommendation for This Basic Materials Giant
In a report released yesterday, Patrick Cunningham from Citi reiterated a Buy rating on Ecolab, with a price target of $315.00. The company’s shares closed yesterday at $261.89.
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According to TipRanks, Cunningham is an analyst with an average return of -1.0% and a 44.44% success rate. Cunningham covers the Basic Materials sector, focusing on stocks such as Linde, LyondellBasell, and Ecolab.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ecolab with a $294.07 average price target, a 12.29% upside from current levels. In a report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $300.00 price target.
Based on Ecolab’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.17 billion and a net profit of $585 million. In comparison, last year the company earned a revenue of $4 billion and had a net profit of $736.5 million
Based on the recent corporate insider activity of 112 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, Alexander A. De Boo, the EVP & PRES – GLOBAL MARKETS of ECL sold 1,422.00 shares for a total of $381,451.50.
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