Icahn Enterprises (NASDAQ:IEP) Upgraded by StockNews.com to Hold Rating

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

Icahn Enterprises Trading Up 0.9 %

Shares of IEP traded up $0.08 during mid-day trading on Wednesday, reaching $9.36. The stock had a trading volume of 226,778 shares, compared to its average volume of 930,737. Icahn Enterprises has a 52-week low of $8.53 and a 52-week high of $19.10. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -8.59 and a beta of 0.85. The business’s fifty day moving average is $9.74 and its 200 day moving average is $11.04. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.36). The firm had revenue of $2.37 billion during 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%. On average, sell-side analysts predict that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IEP. Merit Financial Group LLC acquired a new position in shares of Icahn Enterprises in the 4th quarter worth approximately $343,000. MML Investors Services LLC acquired a new position in Icahn Enterprises during the third quarter worth $171,000. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,427 shares during the period. Geode Capital Management LLC grew its stake in shares of Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock valued at $5,518,000 after buying an additional 12,421 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after buying an additional 1,089 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

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.