Boenning & Scattergood Reaffirms Their Buy Rating on Ecolab Inc (ECL)


In a report released today, Ryan Connors from Boenning & Scattergood reiterated a Buy rating on Ecolab Inc (ECL), with a price target of $210. The company’s shares closed yesterday at $184.08, close to its 52-week high of $186.34.

According to TipRanks.com, Connors is a 4-star analyst with an average return of 11.0% and a 69.3% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ecolab Inc with a $179.50 average price target, implying a -2.5% downside from current levels. In a report issued on April 18, Nomura also upgraded the stock to Buy with a $210 price target.

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Based on Ecolab Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $395 million. In comparison, last year the company had a net profit of $247 million.

Based on the recent corporate insider activity of 132 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Thomas Handley, the President & COO of ECL sold 72,526 shares for a total of $12,632,300.

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 Others. The Global Industrial segment consists of the water, food and beverage, paper, life sciences and textile care operating segments.

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