Ecolab (NYSE:ECL) Upgraded by Baird R W to "Strong-Buy" Rating

Key Points

• Ecolab has been upgraded from a "hold" to a "strong-buy" rating by Baird R W, following similar upgrades from other analysts.
• The average price target for Ecolab's stock is now $289.47, with a current stock price opening at $263.04.
• Ecolab reported earnings of $1.89 per share for the last quarter, slightly missing expectations, with total revenue of $4.03 billion matching analyst predictions.

Ecolab (NYSE:ECL - Get Free Report) was upgraded by research analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on ECL. Barclays decreased their price target on shares of Ecolab from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Seaport Res Ptn upgraded shares of Ecolab from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Mizuho lifted their price target on shares of Ecolab from $285.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company set a $260.00 price target on shares of Ecolab and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Oppenheimer upgraded shares of Ecolab to an "outperform" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $290.71.

Ecolab Price Performance

Shares of ECL traded down $0.96 during mid-day trading on Wednesday, reaching $260.80. 858,978 shares of the stock traded hands, compared to its average volume of 1,140,486. The firm has a fifty day moving average price of $266.76 and a 200 day moving average price of $256.47. The company has a market cap of $73.97 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.80. Ecolab has a 1 year low of $221.62 and a 1 year high of $274.17.

Ecolab (NYSE:ECL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The basic materials company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $4.03 billion. Ecolab had a net margin of 13.59% and a return on equity of 22.52%. As a group, equities research analysts predict that Ecolab will post 7.54 earnings per share for the current year.

Insider Buying and Selling at Ecolab

In other Ecolab news, Director David Maclennan purchased 500 shares of the stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $251.75 per share, with a total value of $125,875.00. Following the transaction, the director owned 19,465 shares of the company's stock, valued at approximately $4,900,313.75. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company's stock.

Institutional Investors Weigh In On Ecolab

Hedge funds have recently modified their holdings of the business. Saudi Central Bank bought a new position in shares of Ecolab during the 1st quarter worth approximately $25,000. Financial Connections Group Inc. bought a new position in shares of Ecolab during the 2nd quarter worth approximately $26,000. J.Safra Asset Management Corp raised its stake in shares of Ecolab by 202.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 115 shares of the basic materials company's stock worth $31,000 after acquiring an additional 77 shares in the last quarter. Dunhill Financial LLC raised its stake in shares of Ecolab by 176.7% during the 1st quarter. Dunhill Financial LLC now owns 119 shares of the basic materials company's stock worth $30,000 after acquiring an additional 76 shares in the last quarter. Finally, Navigoe LLC bought a new position in shares of Ecolab during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 74.91% of the company's stock.

About Ecolab

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.