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Icahn Enterprises LP (IEP): Today's Featured Automotive Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Icahn (IEP) pushed the Automotive industry lower today making it today's featured Automotive laggard. The industry as a whole closed the day down 0.6%. By the end of trading, Icahn fell $15.86 (-10.7%) to $132.67 on heavy volume. Throughout the day, 1,845,469 shares of Icahn exchanged hands as compared to its average daily volume of 193,600 shares. The stock ranged in price between $132.21-$137.42 after having opened the day at $135.00 as compared to the previous trading day's close of $148.53. Other companies within the Automotive industry that declined today were: Spartan Motors (SPAR), down 4.8%, Marine Products Corporation (MPX), down 4.1%, Quantum Fuel Systems Technologies Worldwide (QTWW), down 2.7% and Accuride (ACW), down 2.2%.

Icahn Enterprises L.P. engages in the investment, automotive, gaming, railcar, food packaging, metals, real estate, and home fashion businesses in the United States and internationally. Its Investment segment provides investment advisory, and administrative and back office services. Icahn has a market cap of $16.4 billion and is part of the conglomerates sector. The company has a P/E ratio of 20.0, above the S&P 500 P/E ratio of 17.7. Shares are up 223.0% year to date as of the close of trading on Monday. Currently there is 1 analyst that rates Icahn a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Icahn as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

On the positive front, Dorman Products (DORM), up 3.2%, China Automotive Systems (CAAS), up 3.1%, Motorcar Parts of America (MPAA), up 2.2% and Hyster-Yale Materials Handling Inc Class A (HY), up 2.0% , were all gainers within the automotive industry with Johnson Controls (JCI) being today's featured automotive industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the automotive industry could consider Consumer Discretionary Sel Sec SPDR (XLY) while those bearish on the automotive industry could consider ProShares Ultra Sht Consumer Goods (SZK).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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