ICL Group (NYSE:ICL) Shares Gap Down – Here’s Why

ICL Group Ltd (NYSE:ICL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.45, but opened at $6.16. ICL Group shares last traded at $6.06, with a volume of 3,244,480 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ICL shares. StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Barclays raised shares of ICL Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $4.00 to $6.00 in a report on Tuesday, January 21st.

ICL Group Price Performance

The stock has a fifty day moving average of $5.60 and a two-hundred day moving average of $4.77. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 7.10 and a beta of 1.23. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. On average, equities research analysts anticipate that ICL Group Ltd will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning grew its position in shares of ICL Group by 46.8% during the third quarter. Creative Planning now owns 123,640 shares of the basic materials company’s stock worth $529,000 after acquiring an additional 39,410 shares during the last quarter. GW Henssler & Associates Ltd. boosted its holdings in shares of ICL Group by 18.0% during the third quarter. GW Henssler & Associates Ltd. now owns 19,726 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 3,010 shares during the period. Crossmark Global Holdings Inc. purchased a new position in ICL Group in the third quarter valued at about $6,689,000. Metis Global Partners LLC raised its position in ICL Group by 25.1% during the third quarter. Metis Global Partners LLC now owns 156,749 shares of the basic materials company’s stock valued at $668,000 after acquiring an additional 31,461 shares in the last quarter. Finally, Claro Advisors LLC bought a new position in ICL Group during the third quarter valued at about $66,000. 13.38% of the stock is currently owned by institutional investors.

ICL Group Company Profile

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.