IRSA Inversiones Y Representaciones (NYSE:IRS) Now Covered by Analysts at Bank of America

Key Points

• Bank of America initiated coverage of IRSA Inversiones Y Representaciones with a “buy” rating and a $23.60 price target, implying 67.32% upside from the prior close.
• Analyst sentiment is generally positive: the stock has an average “Buy” rating and a $23.30 average price target, though Weiss Ratings maintained a “hold (c)” rating.
• IRSA reported $1.26 in quarterly EPS on $107.22 million in revenue, while institutional investors own approximately 45.46% of the company.

Analysts at Bank of America initiated coverage on shares of IRSA Inversiones Y Representaciones (NYSE:IRS - Get Free Report) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a "buy" rating and a $23.60 price target on the financial services provider's stock. Bank of America's price target suggests a potential upside of 67.32% from the company's previous close.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of IRSA Inversiones Y Representaciones in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $23.30.

IRSA Inversiones Y Representaciones Trading Up 2.1%

NYSE:IRS traded up $0.29 during mid-day trading on Tuesday, reaching $14.11. 23,621 shares of the company's stock traded hands, compared to its average volume of 170,073. The company has a 50 day moving average price of $14.78 and a 200-day moving average price of $15.15. IRSA Inversiones Y Representaciones has a 12-month low of $11.17 and a 12-month high of $19.14. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 4.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.94 and a quick ratio of 2.94.

IRSA Inversiones Y Representaciones (NYSE:IRS - Get Free Report) last released its earnings results on Friday, August 14th. The financial services provider reported $1.26 EPS for the quarter. IRSA Inversiones Y Representaciones had a return on equity of 17.99% and a net margin of 58.90%. The company had revenue of $107.22 million during the quarter.

Institutional Trading of IRSA Inversiones Y Representaciones

Hedge funds and other institutional investors have recently bought and sold shares of the business. Secure Asset Management LLC lifted its stake in IRSA Inversiones Y Representaciones by 1.3% during the second quarter. Secure Asset Management LLC now owns 92,154 shares of the financial services provider's stock worth $1,423,000 after purchasing an additional 1,200 shares during the last quarter. OceanIQ Capital LLC purchased a new position in IRSA Inversiones Y Representaciones during the 2nd quarter worth $968,000. Y Intercept Hong Kong Ltd purchased a new stake in IRSA Inversiones Y Representaciones during the 1st quarter valued at approximately $712,000. Verde Servicos Internacionais S.A. acquired a new stake in shares of IRSA Inversiones Y Representaciones in the 1st quarter worth $648,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new stake in IRSA Inversiones Y Representaciones in the 1st quarter valued at approximately $405,000. Hedge funds and other institutional investors own 45.46% of the company's stock.

IRSA Inversiones Y Representaciones Company Profile

IRSA Inversiones y Representaciones Sociedad Anónima is an Argentine real estate company engaged in the acquisition, development, leasing and management of properties. Its portfolio includes shopping centers, office buildings, hotels and residential real estate, serving consumers, businesses and other tenants primarily in Argentina.

The company's activities span the development and operation of retail properties, the ownership and leasing of commercial office space, hotel operations and the development of residential projects.

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