IAC (NASDAQ:IAC) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of IAC (NASDAQ:IAC) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

IAC has been the topic of a number of other research reports. UBS Group reissued a “neutral” rating and issued a $42.00 price target on shares of IAC in a research note on Friday, February 6th. Benchmark decreased their target price on shares of IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Citigroup boosted their price target on shares of IAC from $38.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Barclays reduced their price target on shares of IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

IAC Trading Down 2.4%

IAC stock opened at $34.85 on Tuesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -26.20 and a beta of 1.12. IAC has a 1 year low of $29.56 and a 1 year high of $50.49. The firm’s 50 day moving average price is $38.51 and its two-hundred day moving average price is $36.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.75.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The company had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. IAC’s revenue was down 34.7% on a year-over-year basis. During the same quarter last year, the company posted ($2.39) EPS. On average, research analysts predict that IAC will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. HRT Financial LP increased its stake in shares of IAC by 66.0% in the fourth quarter. HRT Financial LP now owns 392,761 shares of the company’s stock worth $15,356,000 after acquiring an additional 156,114 shares during the last quarter. EntryPoint Capital LLC purchased a new position in IAC in the fourth quarter valued at about $400,000. New York State Common Retirement Fund grew its stake in IAC by 12.4% in the fourth quarter. New York State Common Retirement Fund now owns 34,351 shares of the company’s stock valued at $1,343,000 after purchasing an additional 3,788 shares in the last quarter. Bank of Montreal Can increased its position in IAC by 42,721.4% in 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. Finally, Orvieto Partners L.P. purchased a new stake in shares of IAC during the 4th quarter worth about $6,060,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.