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

Key Points

• Wall Street Zen downgraded Icahn Enterprises from “hold” to “sell.” Weiss Ratings also maintained a sell assessment, and MarketBeat data shows a consensus “Sell” rating.
• Icahn Enterprises reported a quarterly loss of $0.31 per share, missing the consensus estimate of $0.09 in earnings, despite revenue of $3.17 billion exceeding expectations.
• Shares opened at $4.75, near the stock’s 12-month low of $4.73; the company had a market capitalization of about $3.38 billion.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Icahn Enterprises from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 16th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Icahn Enterprises Price Performance

IEP stock opened at $4.75 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -3.08 and a beta of 0.74. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. Icahn Enterprises has a 12-month low of $4.73 and a 12-month high of $9.18. The firm has a 50 day moving average of $6.46 and a 200-day moving average of $7.35.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its quarterly 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 4.81% and a negative return on equity of 17.99%. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $2.33 billion.

Institutional Trading of Icahn Enterprises

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

About Icahn Enterprises

Icahn Enterprises L.P. NASDAQ: IEP is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.

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