Canaccord Genuity Reaffirms Their Buy Rating on Ecolab Inc

By Jason Carr

Canaccord Genuity analyst John Quealy reiterated a Buy rating on Ecolab Inc (NYSE: ECL) yesterday and set a price target of $135. The company’s shares opened today at $127.27, close to its 52-week high of $129.85.

According to TipRanks.com, Quealy is a 4-star analyst with an average return of 5.7% and a 52.8% success rate. Quealy covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Darling Ingredients, and Ceco Environmental.

Currently, the analyst consensus on Ecolab Inc is Moderate Buy and the average price target is $128.50, representing a 1.0% upside.

In a report issued on May 3, Oppenheimer also reiterated a Buy rating on the stock with a $133 price target.

The company has a one year high of $129.85 and a one year low of $110.65. Currently, Ecolab Inc has an average volume of 1.02M.

Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECL in relation to earlier this year. Earlier this month, Carl Casale, a Director at ECL bought 5,000 shares for a total of $631,650.

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 technology and services in the field of water, hygiene, and energy. The firm supports the foodservice, food processing, hospitality, healthcare, industrial, and and gas industries. It operates through the following segments Global Industrial, Global Institutional, Global Energy, Other, and Corporate. The Global Industrial segment provides water treatment and process applications; and cleaning and sanitizing solutions. The Global Institutional segment specializes in cleaning and sanitizing products among foodservice, hospitality, lodging, healthcare, government, education, and retail markets. The Global Energy segment serves the process chemical and water treatment needs of the petroleum and petrochemical industries. The Other segment refers to pest elimination and kitchen equipment repair; and maintenance in restaurants, food, and beverages processing plants; as well as educational and healthcare facilities, hotels, quick service restaurants and grocery operation, and other customers. The Corporate segment covers corporate activities. The company was founded by Merritt J. Osborn in 1923 and is headquartered in St. Paul, MN.