IAC/InterActive (IAC) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of IAC/InterActive (NYSE:IAC) from a hold rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $70.00 price objective on the stock.
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. “
Other equities analysts have also issued reports about the stock. Axiom Securities reiterated a buy rating on shares of IAC/InterActive in a research report on Wednesday, June 22nd. Needham & Company LLC reiterated a buy rating and issued a $70.00 price objective (up from $62.00) on shares of IAC/InterActive in a research report on Tuesday, June 21st. SunTrust Banks Inc. reiterated a buy rating and issued a $73.00 price objective (up from $70.00) on shares of IAC/InterActive in a research report on Wednesday, October 12th. Jefferies Group reiterated a hold rating and issued a $60.00 price objective on shares of IAC/InterActive in a research report on Tuesday, August 23rd. Finally, BMO Capital Markets reiterated an outperform rating and issued a $75.00 price objective on shares of IAC/InterActive in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $69.50.
Shares of IAC/InterActive (NYSE:IAC) opened at 61.60 on Wednesday. IAC/InterActive has a 12 month low of $38.82 and a 12 month high of $72.94. The stock has a 50 day moving average of $60.44 and a 200-day moving average of $55.73. The firm’s market capitalization is $4.90 billion.
IAC/InterActive (NYSE:IAC) last announced its earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $745.40 million for the quarter, compared to analyst estimates of $748.73 million. IAC/InterActive’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. On average, equities research analysts anticipate that IAC/InterActive will post $2.58 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Becker Capital Management Inc. purchased a new position in IAC/InterActive during the second quarter valued at about $26,681,000. Palisade Capital Management LLC NJ purchased a new position in IAC/InterActive during the second quarter valued at about $3,246,000. Royal London Asset Management Ltd. purchased a new position in IAC/InterActive during the second quarter valued at about $1,363,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in IAC/InterActive during the second quarter valued at about $757,000. Finally, Oxbow Advisors LLC purchased a new position in shares of IAC/InterActive during the second quarter valued at $3,656,000.
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