BidaskClub Downgrades Icahn Enterprises (IEP) to Strong Sell

Icahn Enterprises (NASDAQ:IEP) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday.

A number of other brokerages have also recently commented on IEP. UBS boosted their price objective on Icahn Enterprises from $39.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, November 8th. ValuEngine cut Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.50.

Shares of Icahn Enterprises (NASDAQ IEP) traded up $0.56 during trading on Wednesday, reaching $52.56. The company had a trading volume of 156,300 shares, compared to its average volume of 92,096. Icahn Enterprises has a 52-week low of $47.06 and a 52-week high of $64.37. The firm has a market capitalization of $8,792.33, a PE ratio of 4.48 and a beta of 1.73. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 1.00.

Several institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co. LLC lifted its stake in shares of Icahn Enterprises by 4.2% during the second quarter. Global X Management Co. LLC now owns 2,420 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 97 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Icahn Enterprises by 4.6% during the second quarter. Advisor Group Inc. now owns 8,518 shares of the conglomerate’s stock worth $328,000 after purchasing an additional 375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Icahn Enterprises by 10.0% during the second 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. Moors & Cabot Inc. lifted its stake in shares of Icahn Enterprises by 8.1% during the second quarter. Moors & Cabot Inc. now owns 5,788 shares of the conglomerate’s stock worth $299,000 after purchasing an additional 434 shares in the last quarter. Finally, Investment Centers of America Inc. lifted its stake in shares of Icahn Enterprises by 8.8% during the second quarter. Investment Centers of America Inc. now owns 8,287 shares of the conglomerate’s stock worth $433,000 after purchasing an additional 672 shares in the last quarter. Institutional investors own 97.46% of the company’s stock.

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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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