Icahn Enterprises (NASDAQ:IEP) Upgraded to Hold by BidaskClub

Icahn Enterprises (NASDAQ:IEP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, June 26th, BidAskClub reports.

Separately, UBS Group restated a “buy” rating and issued a $25.00 target price on shares of Infineon Technologies in a research note on Tuesday, May 7th.

NASDAQ:IEP traded down $0.26 during trading on Wednesday, reaching $75.06. The company’s stock had a trading volume of 71,603 shares, compared to its average volume of 75,567. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.34 and a quick ratio of 5.34. The company has a 50 day simple moving average of $71.97. Icahn Enterprises has a 12 month low of $50.33 and a 12 month high of $81.88.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Thursday, May 2nd. The conglomerate reported ($2.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($2.34). Icahn Enterprises had a negative return on equity of 5.55% and a net margin of 9.01%. The firm had revenue of $1.86 billion for the quarter.

A number of institutional investors and hedge funds have recently bought and sold shares of IEP. Strategic Wealth Management Inc. bought a new position in Icahn Enterprises during the 2nd quarter worth approximately $2,879,000. Rafferty Asset Management LLC bought a new stake in shares of Icahn Enterprises during the fourth quarter valued at approximately $1,629,000. Bank of America Corp DE boosted its position in shares of Icahn Enterprises by 54.7% during the fourth quarter. Bank of America Corp DE now owns 31,291 shares of the conglomerate’s stock valued at $1,786,000 after purchasing an additional 11,067 shares in the last quarter. BT Wealth Management LLC bought a new stake in shares of Icahn Enterprises during the fourth quarter valued at approximately $643,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Icahn Enterprises by 85.9% during the first quarter. Janney Montgomery Scott LLC now owns 16,776 shares of the conglomerate’s stock valued at $1,216,000 after purchasing an additional 7,750 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

About Icahn Enterprises

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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