Report
Keith Schoonmaker, CFA
EUR 101.80 For Business Accounts Only

Wide-Moat U.S. Ecology Completes Impressive Quarter; Shares Fairly Valued

We are maintaining our $53 fair value estimate for wide-moat U.S. Ecology following fourth-quarter results, and believe the market has fully baked in expected benefits from U.S. tax reform and a healthy industrial environment driving volume growth over the next 12 months. The environmental services and field and industrial services segments both grew 14% year over year in the fourth quarter thanks to hurricane-related cleanup services and strong results from the waste management service line. Op...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Keith Schoonmaker, CFA

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