Bank of America Initiates Coverage on IRSA Inversiones Y Representaciones (NYSE:IRS)

Equities research analysts at Bank of America initiated coverage on shares of IRSA Inversiones Y Representaciones (NYSE:IRS) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $23.60 price target on the financial services provider’s stock. Bank of America‘s price target would indicate a potential upside of 67.32% from the stock’s previous close.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of IRSA Inversiones Y Representaciones in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $23.30.

IRSA Inversiones Y Representaciones Trading Up 2.1%

IRS traded up $0.29 during midday trading on Tuesday, hitting $14.11. The company’s stock had a trading volume of 23,621 shares, compared to its average volume of 170,073. IRSA Inversiones Y Representaciones has a 52-week low of $11.17 and a 52-week high of $19.14. The firm has a 50-day moving average price of $14.78 and a two-hundred day moving average price of $15.15. 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 firm has a market cap of $1.19 billion, a P/E ratio of 4.32 and a beta of 1.27.

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

Institutional Investors Weigh In On IRSA Inversiones Y Representaciones

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Secure Asset Management LLC lifted its holdings in shares of IRSA Inversiones Y Representaciones by 1.3% in the second quarter. Secure Asset Management LLC now owns 92,154 shares of the financial services provider’s stock valued at $1,423,000 after buying an additional 1,200 shares during the period. OceanIQ Capital LLC purchased a new position in shares of IRSA Inversiones Y Representaciones in the second quarter worth approximately $968,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of IRSA Inversiones Y Representaciones in the first quarter valued at $712,000. Verde Servicos Internacionais S.A. purchased a new stake in shares of IRSA Inversiones Y Representaciones in the first quarter worth approximately $648,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in shares of IRSA Inversiones Y Representaciones in the first quarter worth $405,000. 45.46% of the stock is currently owned by institutional investors.

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.