ICL Group (NYSE:ICL) Raised to Buy at Wall Street Zen

ICL Group (NYSE:ICL) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also recently issued reports on the company. Barclays cut their price objective on ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of ICL Group in a research note on Monday, December 29th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.23.

ICL Group Trading Down 0.1%

Shares of ICL opened at $5.73 on Friday. The firm has a 50-day moving average of $5.39 and a 200-day moving average of $5.85. ICL Group has a one year low of $4.85 and a one year high of $7.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 0.80.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of ICL Group in the fourth quarter valued at about $122,297,000. Clal Insurance Enterprises Holdings Ltd increased its position in ICL Group by 42.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 19,537,777 shares of the basic materials company’s stock worth $112,054,000 after acquiring an additional 5,805,699 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in ICL Group by 34.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,008,447 shares of the basic materials company’s stock worth $68,693,000 after purchasing an additional 2,563,805 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ICL Group by 120.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company’s stock valued at $23,635,000 after purchasing an additional 2,267,245 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD boosted its holdings in ICL Group by 32.3% in the 4th quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 6,060,600 shares of the basic materials company’s stock valued at $34,768,000 after purchasing an additional 1,481,084 shares during the period. Institutional investors own 13.38% of the company’s stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.