Icahn Enterprises (NASDAQ:IEP) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a buy rating in a research note released on Monday, ValuEngine reports.

A number of other research analysts have also recently commented on the stock. UBS Group reduced their target price on shares of Icahn Enterprises from $56.00 to $55.00 and set a sell rating on the stock in a research report on Thursday, August 29th. BidaskClub cut shares of Icahn Enterprises from a hold rating to a sell rating in a research report on Thursday, September 12th.

IEP stock traded up $0.92 during midday trading on Monday, reaching $69.45. 2,776 shares of the company’s stock traded hands, compared to its average volume of 84,393. The company has a current ratio of 6.54, a quick ratio of 6.54 and a debt-to-equity ratio of 0.76. Icahn Enterprises has a fifty-two week low of $50.33 and a fifty-two week high of $79.37. The business has a 50-day moving average price of $66.53 and a two-hundred day moving average price of $71.11.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Tuesday, August 6th. The conglomerate reported ($2.37) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($2.69). Icahn Enterprises had a negative return on equity of 10.95% and a net margin of 1.86%. The firm had revenue of $2.20 billion for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Second National Bank of Aurora lifted its position in shares of Icahn Enterprises by 92.3% during the second quarter. OLD Second National Bank of Aurora now owns 702 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 337 shares in the last quarter. US Bancorp DE raised its holdings in Icahn Enterprises by 26.2% in the second quarter. US Bancorp DE now owns 1,003 shares of the conglomerate’s stock valued at $73,000 after acquiring an additional 208 shares in the last quarter. BlackRock Inc. acquired a new stake in Icahn Enterprises in the second quarter valued at $81,000. NEXT Financial Group Inc raised its holdings in Icahn Enterprises by 11.5% in the third quarter. NEXT Financial Group Inc now owns 1,617 shares of the conglomerate’s stock valued at $104,000 after acquiring an additional 167 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Icahn Enterprises in the second quarter valued at $203,000. 96.84% of the stock is currently owned by institutional investors and hedge funds.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.

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