Icahn Enterprises (NASDAQ:IEP) Rating Increased to Hold at StockNews.com

Icahn Enterprises (NASDAQ:IEP) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Icahn Enterprises Stock Up 1.0 %

Shares of NASDAQ:IEP opened at $10.00 on Friday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $9.64 and a two-hundred day simple moving average of $11.49. Icahn Enterprises has a 12-month low of $8.53 and a 12-month high of $19.10. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -9.17 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. On average, research analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC raised its stake in shares of Icahn Enterprises by 6.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after purchasing an additional 855 shares during the last quarter. Meridian Wealth Management LLC raised its position in Icahn Enterprises by 5.1% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock worth $184,000 after buying an additional 1,026 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 1,089 shares during the period. Barclays PLC boosted its holdings in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after acquiring an additional 1,427 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Icahn Enterprises in the third quarter worth approximately $30,000. 87.09% of the stock is owned by institutional investors.

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.