Icahn Enterprises (IEP) Raised to “Hold” at BidaskClub

Icahn Enterprises (NASDAQ:IEP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Shares of IEP traded up $0.59 on Thursday, reaching $66.04. The stock had a trading volume of 71,530 shares, compared to its average volume of 103,175. The stock has a market cap of $12.23 billion, a PE ratio of 20.28 and a beta of 1.31. The company has a quick ratio of 5.84, a current ratio of 5.84 and a debt-to-equity ratio of 0.64. Icahn Enterprises has a 12-month low of $50.33 and a 12-month high of $81.88.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Thursday, November 8th. The conglomerate reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($1.07). The firm had revenue of $2.69 billion during the quarter. Icahn Enterprises had a net margin of 5.29% and a return on equity of 4.76%.

A number of hedge funds have recently bought and sold shares of IEP. Tower Research Capital LLC TRC increased its position in Icahn Enterprises by 741.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,725 shares of the conglomerate’s stock valued at $100,000 after buying an additional 1,520 shares in the last quarter. Lee Financial Co bought a new position in Icahn Enterprises during the 3rd quarter valued at approximately $151,000. Belpointe Asset Management LLC bought a new position in Icahn Enterprises during the 3rd quarter valued at approximately $170,000. Carnegie Capital Asset Management LLC bought a new position in Icahn Enterprises during the 3rd quarter valued at approximately $272,000. Finally, Jane Street Group LLC bought a new position in Icahn Enterprises during the 3rd quarter valued at approximately $359,000. 96.76% of the stock is owned by institutional investors.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, operates in investment, automotive, energy, railcar, gaming, metals, mining, food packaging, real estate, and home fashion businesses in the United States, Germany, and Internationally. Its Investment segment operates various private investment funds.

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