Icahn Enterprises (NASDAQ:IEP) Raised to Hold at Wall Street Zen

Icahn Enterprises (NASDAQ:IEP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Friday.

Separately, Zacks Research upgraded Icahn Enterprises from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Icahn Enterprises Price Performance

Shares of Icahn Enterprises stock opened at $8.43 on Friday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -6.85 and a beta of 0.78. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.40. The stock has a 50 day moving average price of $8.89 and a 200-day moving average price of $8.88. Icahn Enterprises has a one year low of $7.27 and a one year high of $15.65.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.44). Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Equities analysts expect that Icahn Enterprises will post -0.55 EPS for the current year.

Institutional Trading of Icahn Enterprises

A number of hedge funds have recently modified their holdings of IEP. International Assets Investment Management LLC purchased a new stake in shares of Icahn Enterprises in the second quarter worth about $1,382,000. First Trust Advisors LP boosted its stake in shares of Icahn Enterprises by 22.1% in the second quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock worth $7,116,000 after buying an additional 160,183 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Icahn Enterprises in the second quarter worth about $294,000. Janney Montgomery Scott LLC boosted its position in Icahn Enterprises by 164.0% during the first quarter. Janney Montgomery Scott LLC now owns 52,759 shares of the conglomerate’s stock worth $478,000 after purchasing an additional 32,772 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Icahn Enterprises by 60.1% during the second quarter. Bank of America Corp DE now owns 85,223 shares of the conglomerate’s stock worth $686,000 after purchasing an additional 32,007 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.