Icahn Enterprises L.P. (IEP) Upgraded to “C” by TheStreet
Icahn Enterprises L.P. (NASDAQ:IEP) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c” rating in a report issued on Tuesday.
Several other analysts have also commented on the company. BidaskClub raised Icahn Enterprises L.P. from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. ValuEngine raised Icahn Enterprises L.P. from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Icahn Enterprises L.P. in a report on Wednesday. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.50.
Icahn Enterprises L.P. (IEP) opened at 55.60 on Tuesday. The company’s market cap is $8.91 billion. Icahn Enterprises L.P. has a 1-year low of $45.42 and a 1-year high of $64.80. The stock’s 50 day moving average price is $52.17 and its 200 day moving average price is $52.35.
Icahn Enterprises L.P. (NASDAQ:IEP) last issued its quarterly earnings data on Tuesday, August 8th. The conglomerate reported $9.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $9.02. Icahn Enterprises L.P. had a return on equity of 16.46% and a net margin of 6.35%. The company had revenue of $6.65 billion during the quarter. On average, equities analysts anticipate that Icahn Enterprises L.P. will post $1.40 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in IEP. IPG Investment Advisors LLC bought a new stake in Icahn Enterprises L.P. during the second quarter valued at about $207,000. Ffcm LLC bought a new stake in Icahn Enterprises L.P. during the second quarter valued at about $112,000. Cambridge Investment Research Advisors Inc. raised its stake in Icahn Enterprises L.P. by 24.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,924 shares of the conglomerate’s stock valued at $358,000 after buying an additional 1,345 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Icahn Enterprises L.P. by 2.2% in the second quarter. Texas Yale Capital Corp. now owns 59,695 shares of the conglomerate’s stock valued at $3,084,000 after buying an additional 1,262 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Icahn Enterprises L.P. by 8.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 7,500 shares of the conglomerate’s stock valued at $387,000 after buying an additional 574 shares in the last quarter. 94.07% of the stock is owned by institutional investors and hedge funds.
About Icahn Enterprises L.P.
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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