IAC Inc. (NASDAQ:IAC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IAC Inc. (NASDAQ:IAC) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $46.6667.

A number of analysts recently weighed in on the stock. Barclays cut their price target on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. Truist Financial decreased their price target on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, UBS Group dropped their price objective on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th.

IAC Stock Up 0.6%

NASDAQ:IAC opened at $39.41 on Monday. IAC has a 12-month low of $29.56 and a 12-month high of $50.49. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.82 billion, a P/E ratio of -14.44 and a beta of 1.10. The stock’s fifty day simple moving average is $36.47 and its 200-day simple moving average is $36.38.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The company had revenue of $589.79 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter in the prior year, the company posted ($2.93) EPS. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts expect that IAC will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Institutional investors and hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC acquired a new stake in IAC during the 4th quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in shares of IAC during the third quarter worth $38,000. JFS Wealth Advisors LLC acquired a new stake in shares of IAC during the third quarter worth $39,000. GAMMA Investing LLC lifted its position in IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after acquiring an additional 367 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after purchasing an additional 829 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

About IAC

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.