Ecolab (ECL): New Buy Recommendation for This Basic Materials Giant
Barclays analyst Manav Patnaik maintained a Buy rating on Ecolab today and set a price target of $300.00.
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Patnaik covers the Industrials sector, focusing on stocks such as Cintas, Mcgrath Rentcorp, and Verisk Analytics. According to TipRanks, Patnaik has an average return of 6.5% and a 57.95% success rate on recommended stocks.
In addition to Barclays, Ecolab also received a Buy from TipRanks – Google’s Google Chemicals – Specialty in a report issued on February 26. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Ecolab (NYSE: ECL).
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 119 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.
Read More on ECL:
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- Ecolab Restructures Leadership, Splits Chief Operating Role
- Ecolab’s Operational Safety Risks Pose Potential Legal, Financial, and Reputational Fallout
- Ecolab Director Victoria Reich to Step Down
- Ecolab price target raised to $312 from $300 at Evercore ISI
- Ecolab price target raised to $325 from $285 at Deutsche Bank
