IRSA Propiedades Comerciales (NASDAQ:IRCP) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of IRSA Propiedades Comerciales (NASDAQ:IRCP) from a hold rating to a buy rating in a report released on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded IRSA Propiedades Comerciales from a sell rating to a hold rating in a research report on Wednesday, July 17th.

NASDAQ:IRCP traded up $0.19 during trading hours on Thursday, hitting $20.70. The company’s stock had a trading volume of 2,617 shares, compared to its average volume of 3,635. The company has a 50-day moving average price of $20.65. The firm has a market capitalization of $646.07 million, a P/E ratio of 0.99 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.36 and a quick ratio of 4.35. IRSA Propiedades Comerciales has a 52-week low of $16.82 and a 52-week high of $34.12.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.32) earnings per share for the quarter. IRSA Propiedades Comerciales had a net margin of 121.57% and a return on equity of 15.59%. The firm had revenue of $51.49 million during the quarter. On average, research analysts anticipate that IRSA Propiedades Comerciales will post -2.14 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Consilium Investment Management LLC acquired a new position in IRSA Propiedades Comerciales in the second quarter valued at about $12,622,000. Macquarie Group Ltd. purchased a new stake in IRSA Propiedades Comerciales during the fourth quarter worth about $1,010,000. Finally, BlackRock Inc. purchased a new stake in IRSA Propiedades Comerciales during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 5.72% of the company’s stock.

IRSA Propiedades Comerciales Company Profile

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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