ICL Group (NYSE:ICL) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded ICL Group from “buy” to “hold,” while the broader analyst consensus remains “Hold” with a $6.00 target price.
• ICL shares opened at $5.08, down 1.8%, and remain below their 50-day and 200-day moving averages of $5.41 and $5.45, respectively.
• The company beat quarterly expectations with $0.11 in EPS on $2.02 billion in revenue, exceeding estimates of $0.10 EPS and $1.92 billion in revenue.

ICL Group (NYSE:ICL - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other research analysts have also issued reports about the stock. Barclays lowered their target price on shares of ICL Group from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Monday, July 27th. Weiss Ratings upgraded shares of ICL Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $6.00.

ICL Group Stock Down 1.8%

ICL opened at $5.08 on Friday. The firm has a market cap of $6.56 billion, a P/E ratio of 25.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 1.38. The business has a 50 day moving average price of $5.41 and a 200 day moving average price of $5.45. ICL Group has a twelve month low of $4.76 and a twelve month high of $6.97.

ICL Group (NYSE:ICL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ICL Group had a return on equity of 7.84% and a net margin of 3.52%.The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.92 billion. Research analysts forecast that ICL Group will post 0.43 EPS for the current year.

Hedge Funds Weigh In On ICL Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in ICL Group in the 1st quarter worth $107,000. Goldman Sachs Group Inc. raised its position in shares of ICL Group by 120.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company's stock valued at $23,635,000 after buying an additional 2,267,245 shares during the last quarter. United Services Automobile Association lifted its stake in shares of ICL Group by 20.4% in the first quarter. United Services Automobile Association now owns 26,218 shares of the basic materials company's stock valued at $153,000 after buying an additional 4,438 shares during the period. Rhumbline Advisers grew its position in ICL Group by 19.4% during the first quarter. Rhumbline Advisers now owns 32,793 shares of the basic materials company's stock worth $187,000 after buying an additional 5,318 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in ICL Group by 35.0% during the second quarter. Russell Investments Group Ltd. now owns 184,891 shares of the basic materials company's stock valued at $1,268,000 after acquiring an additional 47,887 shares during the period. Institutional investors own 13.38% of the company's stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange NYSE: ICL. The company's origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL's core operations are organized into three principal business areas.

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