IAC (NASDAQ:IAC) Rating Increased to Hold at Zacks Research

IAC (NASDAQ:IAC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

IAC has been the topic of several other reports. UBS Group reiterated a “neutral” rating and set a $42.00 target price on shares of IAC in a report on Friday, February 6th. Benchmark reaffirmed a “buy” rating on shares of IAC in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Jefferies Financial Group boosted their target price on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Citigroup upped their target price on shares of IAC from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.62.

IAC Stock Down 1.8%

Shares of NASDAQ IAC opened at $37.28 on Wednesday. IAC has a 12-month low of $29.56 and a 12-month high of $50.49. The company has a market cap of $2.65 billion, a P/E ratio of -28.03 and a beta of 1.09. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $37.69 and a 200 day moving average price of $36.20.

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

Institutional Investors Weigh In On IAC

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in shares of IAC in the 2nd quarter worth about $2,924,000. Permanent Capital Management LP acquired a new stake in shares of IAC in the 3rd quarter valued at about $1,732,000. AlphaQuest LLC lifted its position in shares of IAC by 1,127.5% during the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after purchasing an additional 37,896 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of IAC by 20.5% during the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after purchasing an additional 1,117,313 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in IAC in the third quarter worth about $875,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.