IAC (NASDAQ:IAC) Rating Lowered to “Sell” at Wall Street Zen

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

Several other analysts also recently commented on IAC. JPMorgan Chase & Co. increased 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. Benchmark cut their price target on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. UBS Group reissued a “neutral” rating and set a $42.00 price target on shares of IAC in a research report on Friday. Barclays lowered their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.92.

IAC Price Performance

Shares of IAC opened at $35.65 on Friday. IAC has a fifty-two week low of $29.56 and a fifty-two week high of $50.49. The firm’s 50-day simple moving average is $38.53 and its two-hundred day simple moving average is $36.27. The stock has a market cap of $2.55 billion, a PE ratio of -26.80 and a beta of 1.12. 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 posted its quarterly earnings results 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 company had revenue of $645.98 million during the quarter, compared to analysts’ expectations of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business’s quarterly revenue was down 34.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.39) EPS. Analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several institutional investors have recently added to or reduced their stakes in IAC. Diamond Hill Capital Management Inc. bought a new position in shares of IAC in the fourth quarter worth about $12,067,000. Poehling Capital Management INC. bought a new position in IAC in the 4th quarter worth about $379,000. Handelsbanken Fonder AB increased its position in shares of IAC by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 14,700 shares of the company’s stock worth $575,000 after acquiring an additional 700 shares during the period. HighTower Advisors LLC raised its stake in shares of IAC by 27.0% during the fourth quarter. HighTower Advisors LLC now owns 43,363 shares of the company’s stock valued at $1,695,000 after acquiring an additional 9,214 shares in the last quarter. Finally, Helikon Investments Ltd boosted its holdings in shares of IAC by 40.8% in the fourth quarter. Helikon Investments Ltd now owns 1,866,442 shares of the company’s stock valued at $72,978,000 after purchasing an additional 540,643 shares during the period. 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.