ICL Group (NYSE:ICL) Price Target Cut to $6.00 by Analysts at Barclays

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

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

ICL Group Trading Down 0.4%

ICL Group stock traded down $0.02 during midday trading on Thursday, hitting $5.48. 758,329 shares of the stock were exchanged, compared to its average volume of 774,705. The stock has a market capitalization of $7.20 billion, a PE ratio of 18.90 and a beta of 1.12. The company has a fifty day simple moving average of $6.25 and a two-hundred day simple moving average of $6.50. The company has a quick ratio of 1.05, a current ratio of 1.75 and a debt-to-equity ratio of 0.41. ICL Group has a 52 week low of $4.31 and a 52 week high of $7.35.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ICL. CWM LLC raised its stake in ICL Group by 23.7% in the second quarter. CWM LLC now owns 8,248 shares of the basic materials company’s stock valued at $57,000 after buying an additional 1,581 shares during the period. M&T Bank Corp boosted its stake in shares of ICL Group by 13.0% during the 1st quarter. M&T Bank Corp now owns 14,925 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 1,716 shares during the period. Inspire Investing LLC raised its stake in ICL Group by 5.0% in the 3rd quarter. Inspire Investing LLC now owns 36,368 shares of the basic materials company’s stock valued at $227,000 after acquiring an additional 1,736 shares during the period. Choreo LLC raised its stake in ICL Group by 14.7% in the 2nd quarter. Choreo LLC now owns 14,158 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 1,812 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in ICL Group by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 47,719 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 1,890 shares during the last quarter. 13.38% of the stock is currently owned by institutional investors.

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.