Zacks: Analysts Set $24.00 Target Price for IRSA Propiedades Comerciales SA (NASDAQ:IRCP)

IRSA Propiedades Comerciales SA (NASDAQ:IRCP) has been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Brokers have set a one year consensus price objective of $24.00 for the company, according to Zacks. Zacks has also given IRSA Propiedades Comerciales an industry rank of 101 out of 256 based on the ratings given to its competitors.

Several equities research analysts recently weighed in on the company. ValuEngine raised IRSA Propiedades Comerciales from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. TheStreet cut shares of IRSA Propiedades Comerciales from a “c-” rating to a “d+” rating in a research note on Thursday, August 29th. Finally, Zacks Investment Research upgraded shares of IRSA Propiedades Comerciales from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th.

An institutional investor recently bought a new position in IRSA Propiedades Comerciales stock. Consilium Investment Management LLC acquired a new stake in IRSA Propiedades Comerciales SA (NASDAQ:IRCP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 617,831 shares of the financial services provider’s stock, valued at approximately $12,622,000. IRSA Propiedades Comerciales makes up approximately 24.3% of Consilium Investment Management LLC’s investment portfolio, making the stock its biggest holding. Consilium Investment Management LLC owned 1.96% of IRSA Propiedades Comerciales as of its most recent filing with the Securities and Exchange Commission. 8.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:IRCP traded down $0.49 during trading on Friday, reaching $11.50. The company had a trading volume of 700 shares, compared to its average volume of 15,704. IRSA Propiedades Comerciales has a fifty-two week low of $9.82 and a fifty-two week high of $26.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.36 and a quick ratio of 4.35. The stock’s fifty day moving average price is $15.31 and its 200 day moving average price is $18.74. The firm has a market capitalization of $359.10 million, a price-to-earnings ratio of -0.88 and a beta of 0.77.

IRSA Propiedades Comerciales Company Profile

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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