ICL Group (NYSE:ICL) Price Target Raised to $6.50

ICL Group (NYSE:ICL) had its price target boosted by equities research analysts at BMO Capital Markets from $6.00 to $6.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 6.30% from the company’s previous close.

Several other research firms have also issued reports on ICL. Barclays upgraded shares of ICL Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $4.00 to $6.00 in a research report on Tuesday, January 21st. StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

ICL Group Price Performance

ICL traded up $0.14 during midday trading on Thursday, reaching $6.12. 581,381 shares of the company’s stock were exchanged, compared to its average volume of 961,909. ICL Group has a one year low of $3.79 and a one year high of $6.57. The business has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $4.78. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 7.10 and a beta of 1.23.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. As a group, research analysts predict that ICL Group will post 0.37 EPS for the current year.

Institutional Trading of ICL Group

Several hedge funds and other institutional investors have recently modified their holdings of ICL. Vanguard Group Inc. raised its stake in shares of ICL Group by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 26,898,125 shares of the basic materials company’s stock valued at $132,850,000 after acquiring an additional 626,553 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in ICL Group by 21.3% in the fourth quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company’s stock worth $101,391,000 after purchasing an additional 3,606,357 shares during the period. Y.D. More Investments Ltd grew its holdings in ICL Group by 15.1% in the fourth quarter. Y.D. More Investments Ltd now owns 16,479,059 shares of the basic materials company’s stock worth $81,334,000 after purchasing an additional 2,161,715 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ICL Group by 2.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,362,914 shares of the basic materials company’s stock worth $41,336,000 after purchasing an additional 219,101 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD grew its holdings in ICL Group by 106.0% in the fourth quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 4,579,516 shares of the basic materials company’s stock worth $22,584,000 after purchasing an additional 2,356,324 shares during the period. Institutional investors own 13.38% of the company’s stock.

ICL Group Company Profile

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 Growing Solutions. 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.