StockNews.com Initiates Coverage on ICL Group (NYSE:ICL)

Equities researchers at StockNews.com initiated coverage on shares of ICL Group (NYSE:ICL – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the basic materials company’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of ICL Group from $12.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, January 11th. Barclays lowered their target price on shares of ICL Group from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, January 27th.

ICL Group Stock Down 3.3 %

ICL Group stock opened at $6.81 on Thursday. The firm’s fifty day moving average price is $7.55 and its two-hundred day moving average price is $8.11. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 4.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.13. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. ICL Group has a 1-year low of $6.65 and a 1-year high of $12.96.

ICL Group (NYSE:ICL – Get Rating) last announced its earnings results on Wednesday, February 15th. The basic materials company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.99 billion. ICL Group had a net margin of 21.56% and a return on equity of 42.79%. On average, equities research analysts predict that ICL Group will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of ICL Group

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. increased its holdings in ICL Group by 1,091.3% during the first quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock worth $36,000 after buying an additional 2,750 shares during the last quarter. Barclays PLC boosted its position in ICL Group by 325,000.0% during the third quarter. Barclays PLC now owns 3,251 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 3,250 shares during the period. Clear Street Markets LLC bought a new position in ICL Group during the third quarter worth about $36,000. Quantbot Technologies LP bought a new position in ICL Group during the first quarter worth about $66,000. Finally, Wipfli Financial Advisors LLC bought a new position in ICL Group during the third quarter worth about $49,000. Hedge funds and other institutional investors own 14.13% of the company’s stock.

About ICL Group

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ICL Group Ltd. engages in the manufacture of 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.