Icahn Enterprises (NASDAQ:IEP) Stock Rating Lowered by BidaskClub

Icahn Enterprises (NASDAQ:IEP) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other equities research analysts have also weighed in on IEP. ValuEngine raised shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. UBS Group cut 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 note on Thursday, August 29th.

Icahn Enterprises stock traded up $0.19 during trading hours on Friday, reaching $67.54. The stock had a trading volume of 187,289 shares, compared to its average volume of 84,938. Icahn Enterprises has a 52 week low of $50.33 and a 52 week high of $79.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.54 and a quick ratio of 6.54. The company has a fifty day simple moving average of $67.02 and a 200-day simple moving average of $70.60.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Tuesday, November 5th. The conglomerate reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.68). The firm had revenue of $2.32 billion during the quarter. Icahn Enterprises had a negative return on equity of 11.19% and a net margin of 0.02%.

Several institutional investors and hedge funds have recently made changes to their positions in IEP. WASHINGTON TRUST Co boosted its stake in Icahn Enterprises by 2.8% during the second quarter. WASHINGTON TRUST Co now owns 5,096 shares of the conglomerate’s stock worth $369,000 after acquiring an additional 137 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Icahn Enterprises by 11.5% during the third quarter. NEXT Financial Group Inc now owns 1,617 shares of the conglomerate’s stock worth $104,000 after acquiring an additional 167 shares in the last quarter. US Bancorp DE boosted its stake in Icahn Enterprises by 26.2% during the second quarter. US Bancorp DE now owns 1,003 shares of the conglomerate’s stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Private Advisor Group LLC boosted its stake in Icahn Enterprises by 4.0% during the second quarter. Private Advisor Group LLC now owns 5,902 shares of the conglomerate’s stock worth $388,000 after acquiring an additional 229 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Icahn Enterprises by 8.1% during the second quarter. D.A. Davidson & CO. now owns 4,346 shares of the conglomerate’s stock worth $315,000 after acquiring an additional 325 shares in the last quarter. 96.83% of the stock is currently owned by hedge funds and other institutional investors.

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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