Ecolab price target raised to $210 from $170 at Morgan Stanley » 07:3611/2311/23/20
Morgan Stanley analyst…
Morgan Stanley analyst Vincent Andrews raised the firm's price target on Ecolab to $210 from $170 and keeps an Equal Weight rating on the shares. While Andrews had previously thought it might take longer than 2022 for the company to get back to 2019 earnings levels, he said recent data showing two COVID-19 vaccines with 95% efficacy suggests higher odds of such a consensus outcome than he was previously assuming. A more effective than previously assumed vaccine, a bit earlier than he anticipated, will likely lead to a hotel and restaurant recovery faster than he previously modeled, benefitting Ecolab.
Ecolab receives EPA approval for biofilm disinfection in drains » 08:4311/1911/19/20
Ecolab is the first to…
Ecolab is the first to receive EPA product approval for disinfection of biofilms in wastewater drains for its Virasept product - an important part of a comprehensive environmental hygiene program designed to help effectively combat bacterial growth in hospitals. Virasept is a patented, peracid mixture, ready-to-use cleaner, deodorizer and hospital disinfectant. "Effective drain biofilm disinfection reduces the risk of environmental transmission of pathogens found in biofilms," explains Linda Homan, RN, BSN, CIC, and senior manager of Clinical Affairs for Ecolab Healthcare. "We are excited about this first-to-market foaming application solution and believe it will be unique for some time." Because they are wet, drains are a high-risk environment for biofilm growth and a vector for hospital-associated infectionsii, and recently published studies have identified sink drains as potentially important reservoirs for antibiotic-resistant organisms.iii,iv Other published clinical studies have shown that foaming is a more effective way to apply product to drains compared to liquids as it ensures contact time compliance.
|Over a week ago|
Ecolab receives EPA approval for sink and surface cleaner sanitizer » 08:3710/3010/30/20
Ecolab received approval…
Ecolab received approval from the U.S. Environmental Protection Agency, or EPA, for its sink and surface cleaner sanitizer. The product is the first registered by the EPA to kill the virus that causes COVID-19 in 15 seconds. Ecolab's chemistries, including sink and surface cleaner sanitizer, help restaurants and other businesses meet heightened expectations for cleanliness and more stringent regulations to help reduce the risk of exposure to the virus that causes COVID-19 and other viruses. Sink and surface cleaner sanitizer is a concentrated no-rinse, two-in-one cleaner and sanitizer designed for use on any hard, non-porous food contact surface. Ecolab offers the product for use in spray bottle, bucket, wipe, third sink or electrostatic spray applications. It is one of only three electrostatic spray products proven effective against SARS-CoV-2 - and no product kills the virus faster in electrostatic spray application.
Ecolab says Christophe Beck to succeed Doug Baker as CEO » 17:0310/2910/29/20
Ecolab announced that…
Ecolab announced that Christophe Beck, currently Ecolab's president and chief operating officer, will succeed Douglas Baker, Jr. as the company's chief executive officer effective January 1, 2021, becoming president and chief executive officer. Beck also has been elected to Ecolab's board of directors. Baker, currently Ecolab's chairman and chief executive officer, will retire as chief executive officer but continue as board chairman. Baker commented on Beck's promotion, saying, "I am thrilled the board of directors has named Christophe as my successor and believe he is the perfect choice. He has been a great leader and a great partner in advancing and building Ecolab's strategy and business. Since joining Ecolab in 2007, he has excelled in a succession of increasing and varied responsibilities across our company, helping us strengthen our business, build our teams, enhance our capabilities and shape a stronger future. He is a great business leader, and even more importantly, a good person. His passion, commitment, vision and innovative spirit will serve our people, our customers and our shareholders well."
Ecolab price target raised to $180 from $172 at Credit Suisse » 08:0810/2810/28/20
Credit Suisse analyst…
Credit Suisse analyst Christopher Parkinson raised the firm's price target on Ecolab to $180 from $172 and keeps a Neutral rating on the shares. Despite clear headwinds in Institutional, the analyst remains constructive on the company's long-term outlook due to its ability to further gain market share as demand recovers, manage costs and partially offset continuing weakness within Institutional with strong HC/LS profits. Ecolab's R&D/growth investments will ultimately pay off, but shares appear to already be pricing in a gradual recovery in Institutional, momentum in HC and LS and pockets of Industrial improvement into 2021, keeping the analyst on the sidelines.
Ecolab price target raised to $195 from $187 at BMO Capital » 07:3610/2810/28/20
BMO Capital analyst John…
BMO Capital analyst John McNulty raised the firm's price target on Ecolab to $195 from $187 but keeps a Market Perform rating on the shares after its Q3 results. The company continues to struggle with its core institutional business as the pandemic is pressuring some of its key end markets, though the pressures are starting to moderate, the analyst tells investors in a research note. McNulty believes that Ecolab will end up stronger over long term, but keeps a neutral stance given the stock's "lofty valuation".
Ecolab price target lowered to $200 from $210 at Deutsche Bank » 06:5310/2810/28/20
Deutsche Bank analyst…
Deutsche Bank analyst David Begleiter lowered the firm's price target on Ecolab to $200 from $210 and keeps a Hold rating on the shares following the company's "mixed" Q3 results.
Ecolab sees FY21 EPS 'certainly north' of FY19 EPS, consensus $5.33 » 14:4010/2710/27/20
Says doesn't expect…
Says doesn't expect Institutional to be "fully back" in 2021. Comments taken from Q3 earnings conference call.
Ecolab reports Q3 adj. EPS $1.15, consensus $1.13 » 08:3210/2710/27/20
Reports Q3 revenue…
Reports Q3 revenue $3.02B, consensus $3B. Commenting on the quarter, Douglas Baker, Ecolab's chairman and CEO said, "Third quarter sales and earnings showed significant improvement from the COVID-19 related lows in the second quarter, principally led by our Institutional division, as recovering customer trends along with our new business wins, better customer penetration and cost efficiency actions drove improved sequential results. We expect the improvement to continue in our fourth quarter, though likely at a slower rate as the second COVID-19 wave impacts reopenings. At the same time, the opportunities and challenges created by COVID-19 are much clearer. Our accelerated investments in hand care and sanitizer capacity are paying off. Our continued digital investments and accelerated field technology deployment are enabling us to provide excellent customer support even where we cannot be there in person, and they are also paving the way for continued field team efficiency improvements and allowing us to further drive down our cost to serve while simultaneously improving our ability to deliver value. The steps we have taken this year are positioning us well, and our confidence that our business is set for strong growth going forward has never been greater. In the first quarter we stated our goal for 2020 was to position us for maximum post-COVID success. We feel even better about our progress, as our positioning, our customer offerings, our cost structure and our team - and most importantly, our ability to leverage all of these for the benefit of our customers, shareholders and communities - have only gotten stronger."
|Over a month ago|
Ecolab announces partnership with Water.org » 08:3310/2110/21/20
Ecolab announced a…
Ecolab announced a partnership with Water.org to help enable access to sustainable water and improved sanitation in at-risk watersheds in India. Water.org, an organization co-founded by Matt Damon and Gary White, leverages a scalable, microfinance-based model that has mobilized billions in capital to support small loans that bring access to safe water and sanitation to millions of people. The Water.org partnership will contribute to Ecolab's recently announced 2030 Impact Goals, which include having a positive water impact in at-risk watersheds where Ecolab operates. Ecolab is also a co-founding member of the Water Resilience Coalition, an initiative of the United Nations Global Compact's CEO Water Mandate, which calls for industry leaders to set similar goals. Ecolab's contribution to Water.org aims to enable access to sustainable drinking water and improved sanitation for 100,000 people living in poverty in India, while contributing more than 26.4M gallons of water per year to watershed health in extremely high-stress river basins in which Ecolab operates, including Chennai, Mumbai, Konnagar, Delhi, Baroda, Jamshedpur, Kolkata and Pune.