Barclays Upgrades ICL Group (NYSE:ICL) to Equal Weight

ICL Group (NYSE:ICL) was upgraded by stock analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $6.00 price objective on the basic materials company’s stock, up from their previous price objective of $4.00. Barclays‘s price objective points to a potential downside of 1.07% from the company’s current price.

Separately, StockNews.com raised ICL Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th.

ICL Group Stock Performance

ICL opened at $6.07 on Tuesday. The firm has a fifty day moving average price of $4.97 and a 200 day moving average price of $4.48. ICL Group has a 1 year low of $3.79 and a 1 year high of $6.18. The stock has a market cap of $7.97 billion, a P/E ratio of 19.56, a P/E/G ratio of 6.73 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities research analysts anticipate that ICL Group will post 0.37 earnings per share for the current year.

Institutional Trading of ICL Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. acquired a new stake in ICL Group in the 3rd quarter worth about $6,689,000. Stifel Financial Corp increased its position in shares of ICL Group by 65.0% during the third quarter. Stifel Financial Corp now owns 591,187 shares of the basic materials company’s stock worth $2,513,000 after purchasing an additional 232,842 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of ICL Group during the third quarter worth approximately $56,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ICL Group by 9.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,335,527 shares of the basic materials company’s stock valued at $5,676,000 after purchasing an additional 120,169 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in ICL Group in the 3rd quarter valued at $11,967,000. Hedge funds and other 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.