Zacks Investment Research upgraded shares of Israel Chemicals (NYSE:ICL) from a hold rating to a buy rating in a research note released on Wednesday, March 7th. The firm currently has $5.00 price objective on the basic materials company’s stock.
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. “
Separately, ValuEngine upgraded shares of Israel Chemicals from a hold rating to a buy rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $5.00.
Israel Chemicals (NYSE:ICL) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $1.36 billion for the quarter. Israel Chemicals had a net margin of 6.72% and a return on equity of 13.88%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. analysts forecast that Israel Chemicals will post 0.34 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its position in Israel Chemicals by 1.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 26,215,367 shares of the basic materials company’s stock valued at $116,315,000 after purchasing an additional 354,015 shares during the period. Meitav Dash Investments Ltd. acquired a new position in Israel Chemicals during the 4th quarter valued at about $24,290,000. Delek Group Ltd. acquired a new position in Israel Chemicals during the 4th quarter valued at about $16,093,000. Arrowstreet Capital Limited Partnership lifted its position in Israel Chemicals by 65.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,065,779 shares of the basic materials company’s stock valued at $12,421,000 after purchasing an additional 1,209,368 shares during the period. Finally, Swiss National Bank lifted its position in Israel Chemicals by 0.7% during the 4th quarter. Swiss National Bank now owns 1,966,371 shares of the basic materials company’s stock valued at $7,993,000 after purchasing an additional 13,758 shares during the period. Institutional investors own 7.96% of the company’s stock.
About Israel Chemicals
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 and salt from subterranean mines in Spain and the United Kingdom, as well as uses part of the potash to produce compound fertilizers; mines and processes phosphate rock in open mines; and produces sulfuric acid, agricultural phosphoric acid, phosphate fertilizers, compound fertilizers, liquid fertilizers, and soluble fertilizers.
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