ICL Group Ltd.

ICL Group Ltd. (NASDAQ: ICL) formerly known as Israel Chemicals Ltd, is an Israeli corporation that works in fertilizers and speciality chemical industries. Fertilizers, Industrial Products, and Performance Products are the company's three segments.

Key Highlights

• The company reported YoY growth of 37.91% in total revenue to USD 6.96 billion in FY21 (ended December 31, 2021) compared to USD 5.04 billion in FY20.
• ICL’s net income increased to USD 832 million in FY21 vs. USD 24 million in FY20.
• As of December 31, 2021, the company had cash and cash equivalents (including short-term investments) of USD 564 million and total debt of USD 3.01 billion.
• Its ROE was 18.5% in FY21, whereas the industry median stood at 18.4%.
• Relatively low net margin 12.0% in FY21 vs. industry median of 14.6%.
• ICL announced on February 16, 2022, that its innovation platform, ICL Planet Startup Hub, has invested in Plantible Foods, a vertically integrated agricultural platform manufacturing a functional protein derived from lemna, and will work with them. Last September, Astanor Ventures, a global leader in agriFood impact investing, led Plantible Food's Series A funding round, which Astanor Ventures led.
• Stock is currently trading above its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bullish indicator.
• The stock has made a new 52-week high today.

Conclusion: Considering the company’s surge in topline, expansion of net income, technical indicators, and associated risks. We recommend a "Watch" rating on the stock at the current price of USD 12.88, up 2.18%, as of April 14, 2022, at 09:51 AM PDT.

Technical Price Chart (as on April 14, 2022, at 09:51 PM PDT). Source: REFINITIV, Analysis by Kalkine Group

Technical Analysis Summary:

*Current price as of April 14, 2022, at 09:51 PM PDT

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

Note 1: The reference data in this report has been partly sourced from REFINITIV.  

Note 2: Investment decision should be made depending on the investors' appetite on upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above.