Longbow Research Reiterates Buy Rating for Ecolab (ECL)
Ecolab (NYSE:ECL)‘s stock had its “buy” rating reiterated by research analysts at Longbow Research in a report released on Wednesday. They currently have a $130.00 target price on the stock, up from their previous target price of $125.00. Longbow Research’s price objective would indicate a potential upside of 18.88% from the company’s current price.
Ecolab (NYSE:ECL) traded down 0.44% on Wednesday, hitting $109.35. 1,128,423 shares of the company’s stock traded hands. Ecolab has a one year low of $90.18 and a one year high of $112.27. The stock’s 50-day moving average is $109.5 and its 200-day moving average is $106.7. The company has a market cap of $32.827 billion and a P/E ratio of 33.85.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, July 29th. The company reported $1.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.02 by $0.01. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company posted $0.86 earnings per share. Ecolab’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Ecolab will post $4.18 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ECL. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ecolab in a research note on Wednesday. They now have a $110.00 price target on the stock, up previously from $109.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ecolab in a research note on Thursday, July 24th. They now have a $116.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Ecolab from $123.00 to $128.00 in a research note on Wednesday, July 9th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Ecolab currently has an average rating of “Buy” and a consensus target price of $121.36.
Ecolab Inc (NYSE:ECL) develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets.
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