IAC Inc. (NASDAQ:IAC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IAC Inc. (NASDAQ:IAC) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $54.08.

IAC has been the subject of a number of recent research reports. UBS Group decreased their price objective on IAC from $54.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Piper Sandler decreased their price objective on IAC from $54.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. KeyCorp decreased their price objective on IAC from $64.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Cowen reissued a “buy” rating on shares of IAC in a report on Monday, May 5th. Finally, JMP Securities decreased their price objective on IAC from $64.00 to $47.00 and set a “market outperform” rating for the company in a report on Tuesday, June 10th.

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently modified their holdings of IAC. Strs Ohio bought a new position in IAC during the first quarter valued at $1,291,000. Focus Partners Wealth bought a new position in IAC during the first quarter valued at $270,000. Empowered Funds LLC grew its holdings in IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after purchasing an additional 718 shares during the period. United Services Automobile Association bought a new position in IAC during the first quarter valued at $207,000. Finally, Caxton Associates LLP bought a new position in IAC during the first quarter valued at $694,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Down 2.0%

IAC stock opened at $36.39 on Thursday. The stock’s 50 day simple moving average is $36.23 and its 200 day simple moving average is $40.64. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 2.70. The company has a market cap of $2.69 billion, a P/E ratio of -3.76 and a beta of 1.23.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.14. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. The business had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. During the same period in the prior year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, research analysts expect that IAC will post 0.43 earnings per share for the current fiscal year.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.