Analysts Set $56.00 Target Price for Icahn Enterprises LP (NASDAQ:IEP)

Shares of Icahn Enterprises LP (NASDAQ:IEP) have received an average broker rating score of 5.00 (Strong Sell) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating.

Analysts have set a 12-month consensus target price of $56.00 for the company, according to Zacks. Zacks has also given Icahn Enterprises an industry rank of 42 out of 256 based on the ratings given to related companies.

Several analysts have commented on IEP shares. UBS Group boosted their price target on shares of Icahn Enterprises from $55.00 to $56.00 and gave the stock a “sell” rating in a research note on Tuesday, May 7th. BidaskClub upgraded shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, July 19th.

Shares of IEP stock opened at $75.61 on Monday. Icahn Enterprises has a 52 week low of $50.33 and a 52 week high of $81.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 5.34 and a current ratio of 5.34. The business has a fifty day moving average of $74.04.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Thursday, May 2nd. The conglomerate reported ($2.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($2.34). The company had revenue of $1.86 billion during the quarter. Icahn Enterprises had a negative return on equity of 5.55% and a net margin of 9.01%.

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in Icahn Enterprises by 54.7% during the 4th quarter. Bank of America Corp DE now owns 31,291 shares of the conglomerate’s stock worth $1,786,000 after acquiring an additional 11,067 shares during the last quarter. Jane Street Group LLC grew its position in Icahn Enterprises by 24.8% during the 4th quarter. Jane Street Group LLC now owns 6,332 shares of the conglomerate’s stock worth $361,000 after acquiring an additional 1,258 shares during the last quarter. Financial Advocates Investment Management grew its position in Icahn Enterprises by 24.7% during the 4th quarter. Financial Advocates Investment Management now owns 7,745 shares of the conglomerate’s stock worth $406,000 after acquiring an additional 1,535 shares during the last quarter. American Asset Management Inc. grew its position in Icahn Enterprises by 4.2% during the 1st quarter. American Asset Management Inc. now owns 8,672 shares of the conglomerate’s stock worth $629,000 after acquiring an additional 350 shares during the last quarter. Finally, Baldwin Brothers Inc. MA bought a new stake in Icahn Enterprises during the 1st quarter worth $36,000. Institutional investors and hedge funds own 94.31% of the company’s stock.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.

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