IAC (NASDAQ:IAC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of IAC (NASDAQ:IAC) from a hold rating to a sell rating in a report issued on Sunday morning.

Several other brokerages have also commented on IAC. Barclays cut their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group boosted their price target on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. KeyCorp lowered their price objective on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Benchmark dropped their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.67.

IAC Trading Up 1.7%

Shares of IAC stock opened at $38.68 on Friday. The company has a market capitalization of $2.77 billion, a PE ratio of -14.17 and a beta of 1.18. IAC has a 52-week low of $29.56 and a 52-week high of $50.49. The business’s fifty day moving average is $34.15 and its 200 day moving average is $36.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The business had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.IAC’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.93) earnings per share. On average, equities research analysts anticipate that IAC will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Several institutional investors and hedge funds have recently made changes to their positions in IAC. Helikon Investments Ltd bought a new stake in IAC in the second quarter worth $76,056,000. Burgundy Asset Management Ltd. purchased a new position in shares of IAC in the first quarter worth about $66,556,000. JPMorgan Chase & Co. increased its holdings in shares of IAC by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after buying an additional 1,117,313 shares during the period. Norges Bank bought a new stake in shares of IAC in the 2nd quarter valued at about $31,025,000. Finally, AQR Capital Management LLC boosted its holdings in IAC by 422.9% during the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock valued at $40,025,000 after acquiring an additional 708,332 shares during the period. Institutional investors own 88.90% of the company’s stock.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.