Wells Fargo & Company Upgrades Ecolab (NYSE:ECL) to “Overweight”

Ecolab (NYSE:ECL) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, FinViz reports. The brokerage currently has a $380.00 target price on the basic materials company’s stock, up from their prior target price of $315.00. Wells Fargo & Company‘s target price indicates a potential upside of 24.78% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their price objective on Ecolab from $345.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Berenberg Bank boosted their target price on Ecolab from $299.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Citigroup upped their target price on Ecolab from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. DA Davidson raised their price target on Ecolab from $287.00 to $310.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Mizuho lifted their price target on Ecolab from $325.00 to $327.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $332.00.

Ecolab Stock Performance

Ecolab stock opened at $304.55 on Friday. The firm’s 50 day simple moving average is $285.88 and its 200 day simple moving average is $277.42. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $85.42 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 3.00 and a beta of 0.85. Ecolab has a 1-year low of $243.15 and a 1-year high of $318.93.

Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, October 27th. The basic materials company reported $2.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.18. Ecolab had a net margin of 11.99% and a return on equity of 22.57%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts expect that Ecolab will post 8.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the sale, the chief executive officer owned 72,932 shares in the company, valued at $20,431,170.48. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan purchased 600 shares of the company’s stock in a transaction on Thursday, November 12th. The shares were purchased at an average cost of $308.12 per share, with a total value of $184,872.00. Following the purchase, the director owned 26,225 shares of the company’s stock, valued at approximately $8,080,447. The trade was a 2.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Ecolab

A number of large investors have recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new stake in Ecolab in the second quarter worth approximately $28,000. TOWER TRUST & INVESTMENT Co bought a new position in Ecolab during the third quarter valued at approximately $30,000. Wellington Altus USA Inc. raised its stake in shares of Ecolab by 64.2% during the second quarter. Wellington Altus USA Inc. now owns 110 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Ecolab during the third quarter worth approximately $31,000. Finally, Polaris Financial Partners bought a new stake in shares of Ecolab in the 3rd quarter worth approximately $31,000. 74.91% of the stock is owned by hedge funds and other institutional investors.

About Ecolab

Ecolab Inc. provides water, hygiene, cleaning and infection-prevention products and services to businesses and institutions. Its solutions help customers manage water use, maintain sanitary environments and support operational efficiency. The company serves a range of industries, including food and beverage, foodservice, hospitality, healthcare, life sciences and manufacturing. Its offerings include cleaning and sanitizing products, water-treatment programs, pest-elimination services, and related monitoring and consulting support.