Israel Chemicals (NYSE:ICL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Israel Chemicals Ltd. is a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. It operates primarily in three markets: agriculture, food and engineered materials. The Company’s products include bromine specialty chemicals, potash, phosphate fertilizers, and specialty performance and industrial products. It markets its products primarily in Israel, Europe, and the Americas. Israel Chemicals Ltd. is headquartered in Tel Aviv, Israel. “
ICL has been the subject of several other research reports. Jefferies Financial Group reiterated a “hold” rating and set a $6.57 price target on shares of Israel Chemicals in a research report on Sunday, October 21st. BMO Capital Markets reiterated a “hold” rating and set a $5.25 price target on shares of Israel Chemicals in a research report on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $6.11.
ICL traded down $0.03 during midday trading on Wednesday, hitting $5.74. The company had a trading volume of 1,018 shares, compared to its average volume of 257,201. The company has a current ratio of 1.34, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $7.43 billion, a PE ratio of 18.52, a PEG ratio of 1.58 and a beta of 0.95. Israel Chemicals has a twelve month low of $3.85 and a twelve month high of $6.90.
Israel Chemicals (NYSE:ICL) last issued its quarterly earnings results on Thursday, November 1st. The basic materials company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Israel Chemicals had a net margin of 23.84% and a return on equity of 13.67%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.09 EPS. Israel Chemicals’s revenue was down 4.8% on a year-over-year basis. On average, research analysts predict that Israel Chemicals will post 0.37 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP bought a new position in Israel Chemicals in the third quarter valued at approximately $49,871,000. FMR LLC bought a new position in Israel Chemicals in the third quarter valued at approximately $25,668,000. Altshuler Shaham Ltd lifted its stake in Israel Chemicals by 441.5% in the third quarter. Altshuler Shaham Ltd now owns 1,370,810 shares of the basic materials company’s stock valued at $8,390,000 after buying an additional 1,117,665 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Israel Chemicals in the third quarter valued at approximately $4,463,000. Finally, JPMorgan Chase & Co. lifted its stake in Israel Chemicals by 223.5% in the third quarter. JPMorgan Chase & Co. now owns 633,526 shares of the basic materials company’s stock valued at $3,821,000 after buying an additional 437,688 shares in the last quarter. 9.19% of the stock is currently owned by institutional investors and hedge funds.
Israel Chemicals Company Profile
Israel Chemicals Ltd. operates as a specialty minerals company worldwide. The company operates through two segments, Essential Minerals and Specialty Solutions. The company extracts potash from the Dead Sea; mines and produces potash, salt, and Polysulphate; and produces, markets, and sells pure magnesium and magnesium alloys, as well as produces dry carnallite and related by-products, including chlorine and sylvinite.
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