Incitec Pivot Limited (ICPVF – Research Report) received a Buy rating and a AUD4.75 price target from Morgan Stanley analyst Andrew Scott today. The company’s shares closed last Friday at $2.59.
According to TipRanks, Scott is a 2-star analyst with an average return of 1.6% and a 40.98% success rate. Scott covers the Basic Materials sector, focusing on stocks such as Incitec Pivot Limited, Orica Limited, and James Hardie.
Incitec Pivot Limited has an analyst consensus of Moderate Buy, with a price target consensus of $2.90.
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The company has a one-year high of $3.15 and a one-year low of $0.00. Currently, Incitec Pivot Limited has an average volume of 272.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ICPVF in relation to earlier this year.
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Incitec Pivot Ltd. engages in manufacturing and selling of explosives, fertilisers and industrial chemicals. The company operates through businesses: Asia Pacific, America and Corporate. The Asia Pacific business operates through five segments: Incitec Pivot Fertilisers, Southern Cross International, Fertilisers Elimination, Dyno Nobel Asia Pacific and Asia Pacific Eliminations. The Incitec Pivot Fertilisers segment manufactures and distributes fertilisers in Eastern Australia. The Southern Cross International segment manufactures ammonium phosphates and distributes its manufactured fertilizer products to wholesalers in Australia. The Fertilisers Elimination segment represents the elimination of sales and profit in stock arising from the sale of SCI manufactured products. The Dyno Nobel Asia Pacific segment manufactures and sells industrial explosives and related products and services to the mining industry in the Asia Pacific region and Turkey. The Asia Pacific Eliminations segment represents elimination of sales and profit in stock arising from IPF and SCI sales to DNAP at an arm’s length transfer price. The America business operates through Dyno Nobel Americas segment, which manufactures and sells industrial explosives and related products and services to the mining, quarrying and construction industries in the Americas. The Corporate segment operates through Group Eliminations segment, which represents elimination of sales and profit in stock arising from intersegment sales at an arm’s length transfer price. The company was founded in 2003 and is headquartered in Melbourne, Australia.
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