IRSA Inversiones y Representaciones SA (NYSE:IRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $21.00 price objective on the stock. Zacks Investment Research’s target price points to a potential upside of 12.18% from the stock’s previous close.

According to Zacks, “IRSA Inversiones y Representaciones S.A. invests in and develops industrial, commercial and residential real estate in Argentina, Chile and Brazil. “

Other analysts have also recently issued reports about the company. TheStreet raised IRSA Inversiones y Representaciones SA from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Morgan Stanley cut IRSA Inversiones y Representaciones SA from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 21st.

Shares of IRSA Inversiones y Representaciones SA (NYSE:IRS) opened at 18.72 on Tuesday. The company has a 50-day moving average price of $18.63 and a 200-day moving average price of $16.69. The stock’s market cap is $1.08 billion. IRSA Inversiones y Representaciones SA has a 52 week low of $8.09 and a 52 week high of $19.59.

Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in IRSA Inversiones y Representaciones SA during the second quarter valued at $184,000. Levin Capital Strategies L.P. increased its position in IRSA Inversiones y Representaciones SA by 15.3% in the second quarter. Levin Capital Strategies L.P. now owns 24,083 shares of the company’s stock valued at $405,000 after buying an additional 3,200 shares in the last quarter. FMR LLC increased its position in IRSA Inversiones y Representaciones SA by 50.2% in the second quarter. FMR LLC now owns 30,200 shares of the company’s stock valued at $508,000 after buying an additional 10,100 shares in the last quarter. BlackRock Inc. increased its position in IRSA Inversiones y Representaciones SA by 1.8% in the first quarter. BlackRock Inc. now owns 71,294 shares of the company’s stock valued at $1,067,000 after buying an additional 1,287 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in IRSA Inversiones y Representaciones SA by 11.7% in the second quarter. Global X Management Co. LLC now owns 95,892 shares of the company’s stock valued at $1,612,000 after buying an additional 10,023 shares in the last quarter. 17.40% of the stock is currently owned by institutional investors and hedge funds.

About IRSA Inversiones y Representaciones SA

Irsa Inversiones y Representaciones Sociedad Anonima (IRSA) is a real estate company. The Company is engaged, directly and indirectly through subsidiaries and joint ventures, in a range of diversified real estate related activities in Argentina, including the acquisition, development and operation of shopping centers; the development and sale of residential properties; the acquisition and development of office and other non-shopping center properties primarily for rental purposes; the acquisition and operation of luxury hotels; the acquisition of undeveloped land reserves for future development or sale, and selected real estate investments outside Argentina.

5 Day Chart for NYSE:IRS

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