StockNews.com Upgrades Icahn Enterprises (NASDAQ:IEP) to “Hold”

Icahn Enterprises (NASDAQ:IEP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Icahn Enterprises Price Performance

Shares of IEP stock opened at $9.30 on Wednesday. The business’s fifty day moving average is $9.74 and its 200 day moving average is $11.03. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -8.53 and a beta of 0.85. Icahn Enterprises has a twelve month low of $8.53 and a twelve month high of $19.10.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Research analysts expect that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Icahn Enterprises during the third quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Icahn Enterprises during the 4th quarter valued at about $37,000. Global Retirement Partners LLC increased its stake in Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 1,089 shares in the last quarter. Caz Investments LP purchased a new position in Icahn Enterprises in the fourth quarter worth about $87,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Icahn Enterprises by 40,056.0% in the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after buying an additional 10,014 shares in the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.