IAC (NASDAQ:IAC) Upgraded at Zacks Research

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

Other analysts have also recently issued reports about the stock. UBS Group reissued a “neutral” rating and set a $42.00 target price on shares of IAC in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Needham & Company LLC set a $57.00 price objective on shares of IAC in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their price objective on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Citigroup raised their target price on shares of IAC from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Price Performance

Shares of NASDAQ IAC opened at $37.28 on Wednesday. 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 company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -28.03 and a beta of 1.09. IAC has a twelve month low of $29.56 and a twelve month high of $50.49. The business has a 50 day simple moving average of $37.69 and a 200-day simple moving average of $36.20.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). The firm had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business’s revenue for the quarter was down 34.7% compared to the same quarter last year. During the same quarter last year, the business earned ($2.39) earnings per share. As a group, equities research analysts expect that IAC will post 0.43 earnings per share for the current year.

Institutional Trading of IAC

A number of large investors have recently modified their holdings of IAC. Corient Private Wealth LLC lifted its position in IAC by 64.3% in the 4th quarter. Corient Private Wealth LLC now owns 16,076 shares of the company’s stock valued at $629,000 after purchasing an additional 6,292 shares during the last quarter. Flax Pond Capital LLC bought a new position in IAC in the 4th quarter worth about $3,898,000. Mercer Global Advisors Inc. ADV increased its stake in shares of IAC by 8.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,703 shares of the company’s stock valued at $653,000 after purchasing an additional 1,247 shares during the period. Mackenzie Financial Corp increased its stake in shares of IAC by 29.1% in the fourth quarter. Mackenzie Financial Corp now owns 18,460 shares of the company’s stock valued at $729,000 after purchasing an additional 4,160 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of IAC by 285.8% during the fourth quarter. XTX Topco Ltd now owns 29,414 shares of the company’s stock valued at $1,150,000 after buying an additional 21,790 shares during the last quarter. Institutional investors and hedge funds 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.