Icahn Enterprises (NASDAQ:IEP) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, March 14th.
A number of other research analysts also recently weighed in on IEP. UBS reissued a “sell” rating and issued a $45.00 price target (up previously from $42.00) on shares of Icahn Enterprises in a research note on Tuesday, March 6th. ValuEngine downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Icahn Enterprises currently has an average rating of “Hold” and an average price target of $53.00.
Shares of IEP stock traded down $0.79 during trading hours on Wednesday, reaching $60.05. The company had a trading volume of 78,400 shares, compared to its average volume of 93,787. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.98. The company has a market cap of $10,560.41, a P/E ratio of 4.12 and a beta of 1.60. Icahn Enterprises has a 1-year low of $47.06 and a 1-year high of $62.79.
Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Thursday, March 1st. The conglomerate reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $1.16. The company had revenue of $4.73 billion for the quarter. Icahn Enterprises had a return on equity of 23.08% and a net margin of 10.98%.
A number of institutional investors have recently modified their holdings of IEP. The Manufacturers Life Insurance Company increased its holdings in Icahn Enterprises by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,738 shares of the conglomerate’s stock worth $244,000 after purchasing an additional 431 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Icahn Enterprises by 32.5% during the 3rd quarter. CIBC Asset Management Inc now owns 5,478 shares of the conglomerate’s stock worth $301,000 after purchasing an additional 1,344 shares in the last quarter. Commonwealth Equity Services Inc increased its holdings in Icahn Enterprises by 23.0% during the 3rd quarter. Commonwealth Equity Services Inc now owns 12,492 shares of the conglomerate’s stock worth $685,000 after purchasing an additional 2,332 shares in the last quarter. Texas Yale Capital Corp. increased its holdings in Icahn Enterprises by 4.9% during the 3rd quarter. Texas Yale Capital Corp. now owns 62,593 shares of the conglomerate’s stock worth $3,434,000 after purchasing an additional 2,898 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Icahn Enterprises by 11.4% during the 3rd quarter. Wells Fargo & Company MN now owns 95,188 shares of the conglomerate’s stock worth $5,222,000 after purchasing an additional 9,738 shares in the last quarter. 97.68% of the stock is currently owned by institutional investors and hedge funds.
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About Icahn Enterprises
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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