IRSA Propiedades Comerciales (NASDAQ:IRCP) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of IRSA Propiedades Comerciales (NASDAQ:IRCP) from a sell rating to a hold rating in a research report sent to investors on Monday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd.

Shares of IRSA Propiedades Comerciales stock opened at $21.38 on Monday. The company has a current ratio of 4.36, a quick ratio of 4.35 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $19.24. IRSA Propiedades Comerciales has a 1 year low of $16.82 and a 1 year high of $37.00. The stock has a market capitalization of $673.56 million, a PE ratio of 1.03 and a beta of 0.56.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last issued its earnings results on Thursday, May 9th. The financial services provider reported ($0.32) earnings per share (EPS) for the quarter. IRSA Propiedades Comerciales had a return on equity of 15.59% and a net margin of 121.57%. The business had revenue of $51.49 million for the quarter. On average, analysts predict that IRSA Propiedades Comerciales will post -2.14 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in IRSA Propiedades Comerciales in the fourth quarter valued at $74,000. VR Advisory Services Ltd purchased a new position in IRSA Propiedades Comerciales in the fourth quarter valued at $932,000. Macquarie Group Ltd. purchased a new position in IRSA Propiedades Comerciales in the fourth quarter valued at $1,010,000. Finally, 683 Capital Management LLC increased its holdings in IRSA Propiedades Comerciales by 76.8% in the fourth quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock valued at $1,299,000 after buying an additional 31,303 shares in the last quarter. 5.73% of the stock is owned by institutional investors.

About IRSA Propiedades Comerciales

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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