Icahn Enterprises (NASDAQ:IEP) Upgraded to “Hold” at StockNews.com

Icahn Enterprises (NASDAQ:IEP) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Icahn Enterprises Price Performance

Shares of Icahn Enterprises stock opened at $9.30 on Wednesday. The stock’s fifty day moving average is $9.74 and its 200 day moving average is $11.03. Icahn Enterprises has a one year low of $8.53 and a one year high of $19.10. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The stock has a market cap of $4.86 billion, a P/E ratio of -8.53 and a beta of 0.85.

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

Institutional Trading of Icahn Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Icahn Enterprises in the 3rd quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Icahn Enterprises in the fourth quarter worth about $37,000. Global Retirement Partners LLC grew its position in shares of Icahn Enterprises by 18.1% during the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 1,089 shares in the last quarter. Caz Investments LP bought a new stake in Icahn Enterprises during the 4th quarter valued at approximately $87,000. Finally, BNP Paribas Financial Markets lifted its holdings in Icahn Enterprises by 40,056.0% in the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 10,014 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.

About Icahn Enterprises

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.