IAC/InterActiveCorp (NASDAQ:IAC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of IAC/InterActiveCorp (NASDAQ:IAC) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “

A number of other equities analysts also recently weighed in on IAC. Nomura lifted their target price on shares of IAC/InterActiveCorp from $282.00 to $314.00 and gave the stock a buy rating in a research note on Friday, August 9th. Cowen set a $290.00 target price on shares of IAC/InterActiveCorp and gave the stock a buy rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of IAC/InterActiveCorp from $295.00 to $311.00 and gave the stock an overweight rating in a research note on Friday, August 9th. JMP Securities downgraded shares of IAC/InterActiveCorp from an outperform rating to a market perform rating and set a $228.02 target price for the company. in a research note on Monday, May 13th. Finally, BMO Capital Markets lifted their target price on shares of IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $287.37.

IAC stock opened at $249.17 on Wednesday. The company has a fifty day moving average price of $236.73 and a 200-day moving average price of $223.96. The company has a market capitalization of $20.26 billion, a P/E ratio of 44.57, a PEG ratio of 3.56 and a beta of 0.96. IAC/InterActiveCorp has a 52-week low of $158.29 and a 52-week high of $268.72. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.12 and a current ratio of 4.11.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 earnings per share. As a group, sell-side analysts forecast that IAC/InterActiveCorp will post 4.46 earnings per share for the current fiscal year.

In other IAC/InterActiveCorp news, SVP Michael H. Schwerdtman sold 6,676 shares of IAC/InterActiveCorp stock in a transaction on Friday, August 9th. The shares were sold at an average price of $255.55, for a total value of $1,706,051.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction on Monday, July 1st. The shares were sold at an average price of $220.69, for a total transaction of $441,380.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,676 shares of company stock valued at $3,295,272. Insiders own 11.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of IAC/InterActiveCorp by 1.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,103 shares of the company’s stock valued at $879,000 after buying an additional 49 shares during the last quarter. Winslow Evans & Crocker Inc. grew its holdings in shares of IAC/InterActiveCorp by 40.3% during the first quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after buying an additional 62 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of IAC/InterActiveCorp by 0.8% during the second quarter. Allianz Asset Management GmbH now owns 7,834 shares of the company’s stock valued at $1,704,000 after buying an additional 64 shares during the last quarter. US Bancorp DE grew its holdings in shares of IAC/InterActiveCorp by 2.6% during the second quarter. US Bancorp DE now owns 3,097 shares of the company’s stock valued at $674,000 after buying an additional 79 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of IAC/InterActiveCorp by 1.7% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,688 shares of the company’s stock valued at $984,000 after buying an additional 80 shares during the last quarter. 90.41% of the stock is owned by hedge funds and other institutional investors.

IAC/InterActiveCorp Company Profile

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.

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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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