Israel Chemicals (NYSE:ICL) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Israel Chemicals (NYSE:ICL) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

Shares of ICL stock traded down $0.02 during trading hours on Wednesday, hitting $4.67. 104,991 shares of the company were exchanged, compared to its average volume of 157,603. Israel Chemicals has a 52-week low of $4.36 and a 52-week high of $6.32. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.16 and a beta of 0.89. The company has a current ratio of 1.51, a quick ratio of 0.84 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $4.99.

Israel Chemicals (NYSE:ICL) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Israel Chemicals had a net margin of 9.13% and a return on equity of 13.82%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Israel Chemicals will post 0.43 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ICL. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Israel Chemicals by 65.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,521,491 shares of the basic materials company’s stock worth $18,454,000 after acquiring an additional 1,398,864 shares during the last quarter. Prudential Financial Inc. purchased a new position in Israel Chemicals in the 2nd quarter worth $3,502,000. Vanguard Group Inc. raised its position in Israel Chemicals by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 19,161,577 shares of the basic materials company’s stock worth $99,639,000 after purchasing an additional 518,451 shares during the period. Bank of New York Mellon Corp raised its position in Israel Chemicals by 23.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,705,504 shares of the basic materials company’s stock worth $1,446,607,000 after purchasing an additional 507,268 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Israel Chemicals by 13.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,088,652 shares of the basic materials company’s stock worth $10,861,000 after purchasing an additional 247,857 shares during the period. 6.62% of the stock is owned by institutional investors.

About Israel Chemicals

Israel Chemicals Ltd. operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). 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.

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