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

Zacks Research upgraded shares of IAC (NASDAQ:IAC) from a strong sell rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other analysts also recently issued reports on IAC. Jefferies Financial Group raised their price target on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. UBS Group restated a “neutral” rating and issued a $42.00 price target on shares of IAC in a research report on Friday, February 6th. Benchmark reiterated a “buy” rating on shares of IAC in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.62.

IAC Price Performance

IAC opened at $37.28 on Wednesday. IAC has a 1 year low of $29.56 and a 1 year high of $50.49. The stock’s 50 day simple moving average is $37.69 and its 200 day simple moving average is $36.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -28.03 and a beta of 1.09.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The business 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 company’s quarterly revenue was down 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.39) earnings per share. As a group, analysts predict that IAC will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of IAC by 38.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after purchasing an additional 115,652 shares during the period. United Services Automobile Association purchased a new stake in shares of IAC in the 1st quarter valued at about $207,000. Empowered Funds LLC boosted its stake in IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after buying an additional 718 shares during the period. Focus Partners Wealth purchased a new position in IAC in the first quarter valued at $270,000. Finally, Atria Investments Inc lifted its holdings in IAC by 18.7% during the 2nd quarter. Atria Investments Inc now owns 5,666 shares of the company’s stock worth $212,000 after buying an additional 891 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.