Barclays Has Lowered Expectations for ICL Group (NYSE:ICL) Stock Price

ICL Group (NYSE:ICL) had its price target decreased by investment analysts at Barclays from $7.00 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective indicates a potential upside of 9.49% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of ICL Group in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.23.

ICL Group Stock Performance

NYSE:ICL traded down $0.02 during midday trading on Thursday, reaching $5.48. The stock had a trading volume of 758,329 shares, compared to its average volume of 774,705. The stock has a market capitalization of $7.20 billion, a P/E ratio of 18.90 and a beta of 1.12. ICL Group has a 1-year low of $4.31 and a 1-year high of $7.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.75 and a quick ratio of 1.05. The firm’s fifty day simple moving average is $6.25 and its 200-day simple moving average is $6.50.

Institutional Trading of ICL Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICL. Vanguard Group Inc. lifted its position in ICL Group by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 28,683,603 shares of the basic materials company’s stock valued at $179,100,000 after purchasing an additional 451,440 shares during the period. Y.D. More Investments Ltd lifted its holdings in ICL Group by 0.5% in the third quarter. Y.D. More Investments Ltd now owns 17,759,618 shares of the basic materials company’s stock valued at $111,196,000 after buying an additional 94,588 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in ICL Group by 34.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 10,008,447 shares of the basic materials company’s stock valued at $68,693,000 after acquiring an additional 2,563,805 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in ICL Group by 120.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company’s stock worth $23,635,000 after acquiring an additional 2,267,245 shares during the period. Finally, Legal & General Group Plc raised its position in shares of ICL Group by 0.9% during the 3rd quarter. Legal & General Group Plc now owns 3,825,918 shares of the basic materials company’s stock valued at $23,974,000 after acquiring an additional 33,335 shares during the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.