Canaccord Genuity Increases Ecolab Price Target to $110.00 (ECL)
Stock analysts at Canaccord Genuity boosted their target price on shares of Ecolab (NYSE:ECL) from $100.00 to $110.00 in a report issued on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 14.58% from the stock’s previous close.
Shares of Ecolab (NYSE:ECL) traded down 0.08% during mid-day trading on Friday, hitting $95.69. 686,310 shares of the company’s stock traded hands. Ecolab has a 1-year low of $63.13 and a 1-year high of $96.37. The stock has a 50-day moving average of $92.75 and a 200-day moving average of $86.13. The company has a market cap of $28.838 billion and a P/E ratio of 34.38.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital raised their price target on shares of Ecolab (NYSE:ECL) from $95.00 to $105.00 in a research note to investors on Friday, August 16th. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Ecolab (NYSE:ECL) from $86.00 to $100.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Ecolab (NYSE:ECL) from $94.00 to $103.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock.
Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Ecolab has a consensus rating of “Buy” and an average price target of $97.85.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th.
In other Ecolab news, Director Jerry Levin unloaded 1,075 shares of the company’s stock on the open market in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $92.63, for a total value of $99,577.25. Following the completion of the sale, the director now directly owns 28,577 shares in the company. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Ecolab Inc (NYSE:ECL) develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets.
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