IAC (NASDAQ:IAC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of IAC (NASDAQ:IAC) from a sell rating to a hold rating in a report released on Saturday.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group upped their target price on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Oppenheimer downgraded IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Barclays lowered their price target on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note 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 research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.67.

IAC Stock Performance

IAC opened at $39.46 on Friday. The firm has a market capitalization of $2.83 billion, a P/E ratio of -14.45 and a beta of 1.10. The stock’s 50 day moving average price is $37.75 and its two-hundred day moving average price is $36.48. The company has a quick ratio of 2.56, a current ratio of 2.56 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.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC acquired a new stake in shares of IAC in the 4th quarter valued at $25,000. 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. GAMMA Investing LLC grew its stake in IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after buying an additional 367 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of IAC by 240.3% during the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after buying an additional 829 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

About IAC

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.