ICL Group (NYSE:ICL) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded ICL Group from “hold” to “buy,” although the broader analyst consensus remains “Hold” with an average price target of $6.00.
• ICL Group’s latest quarterly results exceeded expectations, with EPS of $0.12 versus the $0.11 consensus and revenue of $2.13 billion versus $2.01 billion expected.
• The stock opened at $5.55, with a market capitalization of approximately $7.17 billion; institutional investors own 13.38% of the company, and several major firms recently increased their positions.

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

Several other equities research analysts have also issued reports on the company. Barclays dropped their price target on ICL Group from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Monday, July 27th. Weiss Ratings reissued a "hold (c)" rating on shares of ICL Group in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.00.

ICL Group Stock Performance

NYSE ICL opened at $5.55 on Friday. The company's 50 day moving average is $5.20 and its 200-day moving average is $5.44. ICL Group has a 12-month low of $4.76 and a 12-month high of $6.97. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.17 billion, a P/E ratio of 23.15 and a beta of 0.96.

ICL Group (NYSE:ICL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.01 billion. Sell-side analysts predict that ICL Group will post 0.44 earnings per share for the current year.

Institutional Trading of ICL Group

Several large investors have recently added to or reduced their stakes in the stock. Osmosis Investment Management UK Ltd purchased a new stake in ICL Group in the second quarter worth $151,000. Amundi lifted its position in ICL Group by 49.7% during the first quarter. Amundi now owns 1,115,720 shares of the basic materials company's stock valued at $5,779,000 after buying an additional 370,457 shares during the period. Quantinno Capital Management LP lifted its position in ICL Group by 19.6% during the first quarter. Quantinno Capital Management LP now owns 942,340 shares of the basic materials company's stock valued at $4,865,000 after buying an additional 154,459 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of ICL Group by 19.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,174,178 shares of the basic materials company's stock valued at $6,082,000 after buying an additional 191,902 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of ICL Group during the 1st quarter valued at $54,000. Institutional investors own 13.38% of the company's stock.

ICL Group Company Profile

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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