IAC (NASDAQ:IAC) Downgraded by Zacks Research to Strong Sell

IAC (NASDAQ:IAC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

IAC has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Barclays lowered their target price on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen lowered IAC from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Benchmark reduced their price objective on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, 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 note on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.83.

IAC Trading Down 2.1%

NASDAQ:IAC opened at $35.71 on Tuesday. The company’s 50 day moving average is $38.53 and its 200-day moving average is $36.14. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. IAC has a 12 month low of $29.56 and a 12 month high of $50.49. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -26.85 and a beta of 1.12.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The firm had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The business’s quarterly revenue was down 34.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.39) earnings per share. Equities analysts anticipate that IAC will post 0.43 EPS for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC bought a new position in shares of IAC during the fourth quarter valued at $25,000. Hantz Financial Services Inc. increased its position in shares of IAC by 173.4% during the 4th quarter. Hantz Financial Services Inc. now owns 782 shares of the company’s stock worth $31,000 after purchasing an additional 496 shares in the last quarter. Advisory Services Network LLC bought a new position in IAC during the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC acquired a new position in IAC in the third quarter valued at about $39,000. Finally, North Capital Inc. bought a new stake in IAC during the second quarter worth about $75,000. Institutional investors own 88.90% of the company’s stock.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.