IAC (NASDAQ:IAC) Upgraded by Wall Street Zen to Hold Rating

IAC (NASDAQ:IAC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts also recently commented on the company. UBS Group decreased their target price on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Benchmark dropped their price target on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. Truist Financial lowered their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays dropped their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and a consensus target price of $46.73.

IAC Trading Up 1.6%

Shares of IAC opened at $36.76 on Friday. IAC has a twelve month low of $29.56 and a twelve month high of $50.49. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.63 billion, a P/E ratio of -13.47 and a beta of 1.18. The firm’s 50-day moving average is $33.66 and its two-hundred day moving average is $35.96.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in IAC in the third quarter valued at about $38,000. JFS Wealth Advisors LLC purchased a new stake in shares of IAC during the 3rd quarter valued at about $39,000. GAMMA Investing LLC lifted its position in IAC by 48.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after acquiring an additional 367 shares in the last quarter. Farther Finance Advisors LLC grew its position in IAC by 240.3% in the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after acquiring an additional 829 shares in the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of IAC during the second quarter valued at approximately $51,000. 88.90% of the stock is owned by institutional investors and hedge funds.

About IAC

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.