ICL Group (NYSE:ICL) reduced to “Hold” at Zacks Investment Research

ICL Group (NYSE:ICL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Israel Chemicals Ltd. is a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. It operates primarily in three markets: agriculture, food and engineering materials.The company’s products include specialty bromine chemicals, potash, phosphate fertilizers, and specialty performance and industrial products.It markets its products primarily in Israel, Europe and the Americas. Chemicals Ltd. is headquartered in Tel Aviv, Israel.”

Separately, Morgan Stanley raised its price target on ICL Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a Monday, Dec. 6 report.

ICL Action traded down $0.05 on Friday, hitting $11.04. 431,072 shares of the company were traded, against an average volume of 390,997. ICL Group has a 1-year low of $5.24 and a 1-year high of $11.16. The company has a debt ratio of 0.54, a current ratio of 1.52 and a quick ratio of 0.90. The company has a market capitalization of $14.13 billion, a P/E ratio of 25.09, a price-to-earnings growth ratio of 0.51 and a beta of 1.18. The company has a fifty-day simple moving average of $9.52 and a 200-day simple moving average of $8.14.

ICL Group (NYSE:ICL) last released its results on Thursday, November 4. The basic materials company reported EPS of $0.16 for the quarter, beating the Zacks consensus estimate of $0.14 by $0.02. The company had revenue of $1.79 billion in the quarter. ICL Group achieved a return on equity of 12.90% and a net margin of 9.06%. During the same period of the previous year, the company posted an EPS of $0.05. On average, sell-side analysts expect ICL Group to post 0.55 EPS for the current year.

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Institutional investors and hedge funds have recently changed their stock holdings. Exchange Traded Concepts LLC purchased a new stake in ICL Group shares in the fourth quarter at a value of $36,000. Total Clarity Wealth Management Inc. purchased a new stake in ICL Group shares in the third quarter at a value of $44,000. First Trust Advisors LP purchased a new stake in ICL Group shares in the first quarter at a value of $73,000. Jump Financial LLC purchased a new stake in ICL Group stock in the second quarter at a value of $74,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in ICL Group shares in the third quarter at a value of $74,000. 10.07% of the shares are held by institutional investors.

About ICL Group

ICL Group Ltd. is dedicated to manufacturing mineral-based products for the agriculture, food and engineered materials markets. Its products include potash and phosphate fertilizers, specialty fertilizers, functional ingredients, flame retardants and magnesia products. The company was founded in 1968 and is headquartered in Tel Aviv, Israel.

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