IAC (NASDAQ:IAC) Upgraded to “Hold” at Wall Street Zen

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

A number of other research firms have also issued reports on IAC. Truist Financial reduced their price objective on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Jefferies Financial Group boosted their price target on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Zacks Research cut shares of IAC from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. UBS Group reiterated a “neutral” rating and issued a $42.00 price objective on shares of IAC in a research report on Friday, February 6th. Finally, KeyCorp reduced their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.83.

IAC Stock Up 1.0%

Shares of NASDAQ:IAC opened at $38.32 on Friday. IAC has a 1-year low of $29.56 and a 1-year high of $50.49. The company’s fifty day moving average is $38.05 and its two-hundred day moving average is $36.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.75. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -28.81 and a beta of 1.12.

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). The business had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.IAC’s revenue was down 34.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.39) EPS. Equities analysts anticipate that IAC will post 0.43 EPS for the current year.

Institutional Investors Weigh In On IAC

Institutional investors and hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of IAC by 2.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after acquiring an additional 300 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of IAC by 3.5% during the fourth quarter. New Age Alpha Advisors LLC now owns 9,104 shares of the company’s stock valued at $356,000 after purchasing an additional 309 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of IAC by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after purchasing an additional 316 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of IAC by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock valued at $2,854,000 after purchasing an additional 410 shares during the period. Finally, Franklin Resources Inc. raised its holdings in IAC by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 6,439 shares of the company’s stock worth $252,000 after buying an additional 471 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.