ICL Group (NYSE:ICL) Reaches New 12-Month Low – Here’s Why

Shares of ICL Group Ltd. (NYSE:ICL – Get Free Report) hit a new 52-week low during trading on Tuesday. The company traded as low as $4.48 and last traded at $4.4650, with a volume of 96,376 shares trading hands. The stock had previously closed at $4.57.

Wall Street Analysts Forecast Growth

ICL has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of ICL Group in a research note on Thursday. Finally, Wall Street Zen downgraded ICL Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Check Out Our Latest Stock Analysis on ICL Group

ICL Group Trading Down 3.4%

The firm has a market capitalization of $5.70 billion, a P/E ratio of 18.40 and a beta of 1.03. The business’s 50-day moving average is $5.24 and its 200 day moving average is $5.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 0.94.

ICL Group (NYSE:ICL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. As a group, analysts anticipate that ICL Group Ltd. will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of ICL Group by 11.9% in the third quarter. Signaturefd LLC now owns 88,735 shares of the basic materials company’s stock valued at $445,000 after buying an additional 9,423 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of ICL Group by 16.3% in the third quarter. Inspire Investing LLC now owns 70,840 shares of the basic materials company’s stock valued at $356,000 after buying an additional 9,930 shares during the period. Quadrant Capital Group LLC grew its position in ICL Group by 3.6% during the third quarter. Quadrant Capital Group LLC now owns 72,816 shares of the basic materials company’s stock worth $363,000 after buying an additional 2,547 shares in the last quarter. 55 North Private Wealth LLC acquired a new stake in ICL Group during the third quarter worth approximately $75,000. Finally, Abel Hall LLC acquired a new stake in ICL Group during the third quarter worth approximately $96,000. 13.38% of the stock is owned by institutional investors.

ICL Group Company Profile

(Get Free Report)

ICL Group Ltd. (NYSE: ICL) is a global specialty minerals and chemicals company headquartered in Israel. Formerly known as Israel Chemicals, the company was established in 1968 and develops, produces and markets mineral-based products for agriculture, food, and industrial applications.

Its agriculture business supplies potash and phosphate-based fertilizers, specialty plant nutrients, and related solutions designed to support crop production. ICL also produces ingredients for the food industry, including specialty phosphates and other functional materials used in food processing and nutrition applications.

The company’s industrial products include bromine-based compounds, flame retardants, water-treatment chemicals, and other specialty chemicals.

Further Reading

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