Icahn Enterprises (NASDAQ:IEP) Rating Lowered to Sell at Wall Street Zen

Icahn Enterprises (NASDAQ:IEP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Sell rating. According to MarketBeat, Icahn Enterprises has an average rating of “Sell”.

Icahn Enterprises Price Performance

Shares of NASDAQ:IEP opened at $4.75 on Friday. Icahn Enterprises has a fifty-two week low of $4.73 and a fifty-two week high of $9.18. The company’s 50-day moving average is $6.46 and its 200 day moving average is $7.35. The company has a debt-to-equity ratio of 4.07, a quick ratio of 3.00 and a current ratio of 3.00. The company has a market capitalization of $3.60 billion, a P/E ratio of -3.08 and a beta of 0.75.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Tuesday, November 3rd. The conglomerate reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40). Icahn Enterprises had a negative net margin of 9.25% and a negative return on equity of 20.22%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.33 billion.

Institutional Trading of Icahn Enterprises

A number of institutional investors have recently modified their holdings of the business. Arrow Investment Advisors LLC lifted its holdings in Icahn Enterprises by 23.2% during the 3rd quarter. Arrow Investment Advisors LLC now owns 32,835 shares of the conglomerate’s stock worth $222,000 after purchasing an additional 6,176 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Icahn Enterprises during the 3rd quarter valued at about $70,000. MGO One Seven LLC grew its holdings in Icahn Enterprises by 20.9% during the 3rd quarter. MGO One Seven LLC now owns 110,019 shares of the conglomerate’s stock valued at $743,000 after buying an additional 18,995 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Icahn Enterprises by 88.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 43,513 shares of the conglomerate’s stock valued at $294,000 after buying an additional 20,395 shares in the last quarter. Finally, Hilton Head Capital Partners LLC increased its position in shares of Icahn Enterprises by 33.8% during the third quarter. Hilton Head Capital Partners LLC now owns 14,132 shares of the conglomerate’s stock valued at $95,000 after buying an additional 3,569 shares during the period. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

About Icahn Enterprises

Icahn Enterprises L.P. is a diversified holding company that invests in and operates businesses across several industries. Its activities include energy, automotive services, food packaging, real estate and home fashion, alongside its investment operations.

The company conducts much of its business through subsidiaries and other controlled entities, including operations serving customers in the United States and international markets. Its roots date to 1987, when it was formed as American Real Estate Partners; it adopted the Icahn Enterprises name in 2007.

Carl Icahn is the company’s chairman and controlling unitholder.