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 report issued on Wednesday.

Icahn Enterprises Stock Up 0.9 %

Shares of NASDAQ:IEP traded up $0.08 during trading on Wednesday, hitting $9.36. The company’s stock had a trading volume of 226,778 shares, compared to its average volume of 930,737. Icahn Enterprises has a fifty-two week low of $8.53 and a fifty-two week high of $19.10. The business has a 50 day moving average price of $9.74 and a two-hundred day moving average price of $11.04. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The company has a market capitalization of $4.89 billion, a PE ratio of -8.59 and a beta of 0.85.

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

Institutional Investors Weigh In On Icahn Enterprises

Large investors have recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Icahn Enterprises in the 4th quarter valued at $37,000. BNP Paribas Financial Markets grew its holdings in shares of Icahn Enterprises by 40,056.0% during the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 10,014 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Icahn Enterprises during the fourth quarter worth about $105,000. Triumph Capital Management lifted its holdings in shares of Icahn Enterprises by 27.0% in the 4th quarter. Triumph Capital Management now owns 21,254 shares of the conglomerate’s stock valued at $184,000 after purchasing an additional 4,521 shares during the last quarter. Finally, Icahn Carl C boosted its position in shares of Icahn Enterprises by 4.1% in the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock valued at $3,908,333,000 after purchasing an additional 17,581,237 shares during the period. 87.09% of the stock is owned by hedge funds and other institutional investors.

About Icahn Enterprises

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.