Barclays Raises ICL Group (NYSE:ICL) Price Target to $7.00

ICL Group (NYSE:ICL) had its target price boosted by equities researchers at Barclays from $6.00 to $7.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective suggests a potential upside of 9.63% from the stock’s previous close.

A number of other research analysts also recently commented on ICL. Wall Street Zen raised ICL Group from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of ICL Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.60.

ICL Group Price Performance

NYSE:ICL traded down $0.03 during trading hours on Monday, reaching $6.39. 187,396 shares of the company were exchanged, compared to its average volume of 1,599,537. The company has a market capitalization of $8.24 billion, a P/E ratio of 31.93 and a beta of 0.86. ICL Group has a 1-year low of $4.76 and a 1-year high of $7.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 0.80. The business has a 50 day moving average of $5.43 and a 200 day moving average of $5.46.

ICL Group (NYSE:ICL) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.92 billion. ICL Group had a return on equity of 7.84% and a net margin of 3.52%. Research analysts forecast that ICL Group will post 0.4 EPS for the current year.

Hedge Funds Weigh In On ICL Group

A number of institutional investors have recently added to or reduced their stakes in ICL. Farther Finance Advisors LLC boosted its position in ICL Group by 351.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company’s stock valued at $30,000 after buying an additional 4,014 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of ICL Group during the fourth quarter worth $38,000. Sei Investments Co. acquired a new position in shares of ICL Group during the first quarter worth $54,000. Boothbay Fund Management LLC acquired a new position in shares of ICL Group during the fourth quarter worth $59,000. Finally, R Squared Ltd bought a new position in shares of ICL Group in the 1st quarter valued at $62,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.