ICL Group (NYSE:ICL) Price Target Raised to $6.50

ICL Group (NYSE:ICL - Get Free Report) had its target price raised by equities research analysts at BMO Capital Markets from $6.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the basic materials company's stock. BMO Capital Markets' price objective points to a potential upside of 10.17% from the company's previous close.

ICL has been the subject of several other research reports. Barclays raised ICL Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $4.00 to $6.00 in a research note on Tuesday, January 21st. StockNews.com raised ICL Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th.

ICL Group Price Performance

ICL Group stock traded down $0.13 during midday trading on Thursday, reaching $5.90. 1,092,077 shares of the stock were exchanged, compared to its average volume of 977,209. ICL Group has a 52 week low of $3.79 and a 52 week high of $6.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. The firm has a market cap of $7.75 billion, a PE ratio of 19.03, a PEG ratio of 7.10 and a beta of 1.23. The company's fifty day moving average is $5.67 and its 200-day moving average is $4.81.

ICL Group (NYSE:ICL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. On average, sell-side analysts forecast that ICL Group will post 0.37 EPS for the current year.

Hedge Funds Weigh In On ICL Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new stake in ICL Group during the third quarter worth about $6,689,000. Stifel Financial Corp boosted its holdings in ICL Group by 65.0% in the third quarter. Stifel Financial Corp now owns 591,187 shares of the basic materials company's stock worth $2,513,000 after acquiring an additional 232,842 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of ICL Group in the third quarter worth $56,000. Meitav Investment House Ltd. grew its position in ICL Group by 21.3% during the 4th quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company's stock valued at $101,391,000 after purchasing an additional 3,606,357 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ICL Group by 9.9% during the third 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 acquiring an additional 120,169 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company's stock.

About ICL Group

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.