Israel Chemicals (ICL) Cut to Sell at Zacks Investment Research

Israel Chemicals (NYSE:ICL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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. “

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Israel Chemicals from a “hold” rating to a “buy” rating in a report on Friday, August 24th. BMO Capital Markets restated a “hold” rating and set a $5.25 target price on shares of Israel Chemicals in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.25.

Shares of ICL opened at $6.23 on Thursday. Israel Chemicals has a 12 month low of $3.85 and a 12 month high of $6.90. The firm has a market cap of $7.86 billion, a P/E ratio of 20.10 and a beta of 1.14. The company has a quick ratio of 0.76, a current ratio of 1.35 and a debt-to-equity ratio of 0.50.

Israel Chemicals (NYSE:ICL) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Israel Chemicals had a net margin of 22.74% and a return on equity of 14.16%. The business had revenue of $1.37 billion during the quarter. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Israel Chemicals will post 0.36 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in Israel Chemicals by 35.1% in the third quarter. Bank of Montreal Can now owns 200,367 shares of the basic materials company’s stock valued at $1,208,000 after acquiring an additional 52,073 shares during the last quarter. Lourd Capital LLC acquired a new stake in Israel Chemicals in the third quarter valued at $167,000. Schroder Investment Management Group lifted its stake in Israel Chemicals by 43.8% in the second quarter. Schroder Investment Management Group now owns 655,043 shares of the basic materials company’s stock valued at $10,939,000 after acquiring an additional 199,511 shares during the last quarter. Voya Investment Management LLC lifted its stake in Israel Chemicals by 526.7% in the second quarter. Voya Investment Management LLC now owns 473,144 shares of the basic materials company’s stock valued at $2,159,000 after acquiring an additional 397,649 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Israel Chemicals by 40.4% in the second quarter. Van ECK Associates Corp now owns 2,014,048 shares of the basic materials company’s stock valued at $9,265,000 after acquiring an additional 579,976 shares during the last quarter. Hedge funds and other institutional investors own 8.11% of the company’s stock.

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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