Boenning & Scattergood analyst Ryan Connors maintained a Buy rating on Ecolab Inc (ECL) today and set a price target of $210. The company’s shares opened today at $165, close to its 52-week high of $167.51.
Connors observed:
“We see Ecolab as having one of the water sector’s most favorable growth outlooks over the next 12-18 months, benefiting from a unique mix of commercial and industrial exposure and a range of secular drivers. Meanwhile, the 4Q results and 2019 outlook affirm the results of our recent checks, which indicated that Ecolab is seeing strong success in price redeterminations with federal/state/local government customers, suggesting broader pricing momentum across the portfolio. In our view, Ecolab is set to benefit from a timely mix of top-line growth and effective price/cost management in 2019-2020, driving positive earnings momentum and setting the stage for upward estimate revisions.”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 8.8% and a 69.5% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Ecolab Inc is a Moderate Buy with an average price target of $180.
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Based on Ecolab Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $435 million. In comparison, last year the company had a net profit of $566 million.
Based on the recent corporate insider activity of 128 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, John Zillmer, a Director at ECL bought 5,200 shares for a total of $200,824.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ecolab, Inc. engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional, Global Energy, and Other.
