IAC’s (IAC) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of IAC (NASDAQ:IAC) in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has a $48.00 price target on the stock, up from their previous price target of $39.00.

Several other equities research analysts also recently weighed in on the company. KeyCorp raised their price objective on IAC from $41.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. TD Cowen raised their price objective on IAC from $60.00 to $66.00 and gave the company a “buy” rating in a report on Monday. Citigroup raised their price objective on IAC from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. Finally, Benchmark raised their target price on IAC from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and a consensus price target of $53.14.

IAC Trading Up 2.2%

NASDAQ IAC opened at $44.06 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. IAC has a twelve month low of $29.56 and a twelve month high of $45.82. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 119.08 and a beta of 1.03. The business’s fifty day moving average is $40.37 and its 200 day moving average is $37.82.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a net margin of 1.82% and a return on equity of 2.29%. The firm had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. During the same period last year, the business earned ($2.39) EPS. The company’s revenue was down 34.7% compared to the same quarter last year. As a group, sell-side analysts expect that IAC will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IAC. Bank of Montreal Can raised its position in IAC by 42,721.4% during the 4th quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock worth $122,309,000 after purchasing an additional 3,120,799 shares during the last quarter. Aristeia Capital L.L.C. raised its position in IAC by 100.7% during the 4th quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company’s stock worth $222,966,000 after purchasing an additional 2,861,871 shares during the last quarter. Boston Partners bought a new position in IAC during the 4th quarter worth $29,114,000. Empyrean Capital Partners LP bought a new position in IAC during the 4th quarter worth $26,471,000. Finally, Corvex Management LP raised its position in shares of IAC by 20.3% in the 4th quarter. Corvex Management LP now owns 3,355,075 shares of the company’s stock worth $131,183,000 after acquiring an additional 566,696 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

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.