ICL Group (NYSE:ICL) Raised to “Buy” at Zacks Investment Research

ICL Group (NYSE:ICLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $14.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.09% from the company’s current price.

According to Zacks, “ICL Group is a global specialty minerals company. They extract potash, phosphate, bromine, magnesium and certain other minerals in Israel, potash and salt in Spain, Polysulphate(TM), salt, and certain other minerals in the United Kingdom and phosphate in China, pursuant to concessions and permits in those countries. “

Other equities research analysts have also recently issued research reports about the stock. StockNews.com initiated coverage on shares of ICL Group in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Citigroup lowered shares of ICL Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 24th. Finally, Morgan Stanley raised their target price on shares of ICL Group from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, March 17th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.33.

ICL traded down $0.11 during midday trading on Wednesday, hitting $12.49. The company had a trading volume of 612,563 shares, compared to its average volume of 925,710. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.50. The company has a market capitalization of $15.99 billion, a PE ratio of 20.82, a P/E/G ratio of 2.25 and a beta of 1.08. ICL Group has a twelve month low of $6.16 and a twelve month high of $12.96. The firm’s 50-day simple moving average is $11.40 and its 200-day simple moving average is $10.00.

ICL Group (NYSE:ICLGet Rating) last posted its quarterly earnings data on Wednesday, February 9th. The basic materials company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.78 billion. ICL Group had a net margin of 11.26% and a return on equity of 18.52%. During the same quarter last year, the company posted $0.05 EPS. As a group, sell-side analysts anticipate that ICL Group will post 1.34 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ICL. Exchange Traded Concepts LLC bought a new position in ICL Group during the 4th quarter worth approximately $36,000. First Trust Advisors LP bought a new position in ICL Group during the 1st quarter worth approximately $73,000. Schonfeld Strategic Advisors LLC bought a new position in ICL Group during the 3rd quarter worth approximately $74,000. First Eagle Investment Management LLC bought a new position in ICL Group during the 4th quarter worth approximately $79,000. Finally, Cubist Systematic Strategies LLC bought a new position in ICL Group during the 3rd quarter worth approximately $109,000.

ICL Group Company Profile (Get Rating)

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.

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