IRSA Inversiones Y Representaciones (NYSE:IRS) Stock Jumps 4.6% - Here's Why

Key Points

• IRSA shares rose 4.6% to approximately $14.45, though trading volume was 68% below the average session volume.
• Bank of America initiated coverage with a Buy rating and a $23.60 price target; analysts’ consensus is also “Buy,” with an average target of $23.30.
• The company reported quarterly EPS of $1.26 on $107.22 million in revenue, while institutional investors own approximately 45.46% of its stock.

IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Get Free Report)'s stock price rose 4.6% during trading on Tuesday. The company traded as high as $14.41 and last traded at $14.4480. Approximately 54,541 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 170,300 shares. The stock had previously closed at $13.81.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IRS shares. Bank of America began coverage on shares of IRSA Inversiones Y Representaciones in a research report on Tuesday. They issued a "buy" rating and a $23.60 price target on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of IRSA Inversiones Y Representaciones in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, IRSA Inversiones Y Representaciones has a consensus rating of "Buy" and an average price target of $23.30.

IRSA Inversiones Y Representaciones Stock Performance

The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 4.35 and a beta of 1.27. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.39. The stock's 50 day moving average is $14.78 and its 200 day moving average is $15.15.

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

Institutional Trading of IRSA Inversiones Y Representaciones

Several institutional investors and hedge funds have recently made changes to their positions in IRS. OceanIQ Capital LLC purchased a new position in IRSA Inversiones Y Representaciones during the 2nd quarter valued at about $968,000. Y Intercept Hong Kong Ltd bought a new position in shares of IRSA Inversiones Y Representaciones during the 1st quarter valued at $712,000. Verde Servicos Internacionais S.A. bought a new position in shares of IRSA Inversiones Y Representaciones during the 1st quarter valued at approximately $648,000. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of IRSA Inversiones Y Representaciones during the first quarter valued at about $405,000. Finally, QRG Capital Management Inc. increased its position in shares of IRSA Inversiones Y Representaciones by 121.7% during the 1st quarter. QRG Capital Management Inc. now owns 22,328 shares of the financial services provider's stock valued at $362,000 after purchasing an additional 12,255 shares during the last quarter. Hedge funds and other institutional investors own 45.46% of the company's stock.

About IRSA Inversiones Y Representaciones

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.