Icahn Enterprises (NASDAQ:IEP) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a buy rating in a research note issued to investors on Friday morning, BidAskClub reports.

Separately, UBS Group reaffirmed a buy rating and set a $25.00 price objective on shares of Infineon Technologies in a research note on Tuesday, May 7th.

NASDAQ IEP opened at $75.13 on Friday. The company has a fifty day moving average price of $72.20. Icahn Enterprises has a 52 week low of $50.33 and a 52 week high of $81.88. The company has a quick ratio of 5.34, a current ratio of 5.34 and a debt-to-equity ratio of 0.63.

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

Several institutional investors have recently made changes to their positions in the stock. OLD Second National Bank of Aurora grew its stake in shares of Icahn Enterprises by 92.3% during the second quarter. OLD Second National Bank of Aurora now owns 702 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 337 shares during the period. American Asset Management Inc. grew its stake in shares of Icahn Enterprises by 4.2% during the first quarter. American Asset Management Inc. now owns 8,672 shares of the conglomerate’s stock worth $629,000 after purchasing an additional 350 shares during the period. Mutual Advisors LLC grew its stake in shares of Icahn Enterprises by 2.0% during the fourth quarter. Mutual Advisors LLC now owns 24,872 shares of the conglomerate’s stock worth $1,420,000 after purchasing an additional 477 shares during the period. Baldwin Brothers Inc. MA acquired a new stake in shares of Icahn Enterprises during the first quarter worth $36,000. Finally, Osborn Williams & Donohoe LLC bought a new position in Icahn Enterprises during the first quarter worth about $36,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Icahn Enterprises Company Profile

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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