IAC (NASDAQ:IAC) Upgraded at Zacks Research

Zacks Research upgraded shares of IAC (NASDAQ:IAC) from a strong sell rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

Several other research analysts also recently commented on IAC. UBS Group reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of IAC in a report on Friday, February 6th. Needham & Company LLC set a $57.00 target price on shares of IAC in a report on Tuesday, March 3rd. Citigroup increased their target price on IAC from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.62.

IAC Trading Down 0.1%

Shares of IAC stock opened at $37.26 on Wednesday. The stock has a market capitalization of $2.65 billion, a P/E ratio of -28.01 and a beta of 1.09. IAC has a 52-week low of $29.56 and a 52-week high of $50.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The stock’s 50-day simple moving average is $37.66 and its 200 day simple moving average is $36.21.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The business had revenue of $645.98 million for the quarter, compared to the consensus estimate 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 for the quarter was down 34.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.39) EPS. As a group, research analysts anticipate that IAC will post 0.43 EPS for the current year.

Institutional Trading of IAC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of IAC by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after purchasing an additional 115,652 shares during the period. United Services Automobile Association bought a new stake in IAC during the first quarter valued at $207,000. Empowered Funds LLC boosted its stake in IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after buying an additional 718 shares during the period. Focus Partners Wealth purchased a new position in IAC during the first quarter worth about $270,000. Finally, Atria Investments Inc increased its stake in IAC by 18.7% in the 2nd quarter. Atria Investments Inc now owns 5,666 shares of the company’s stock worth $212,000 after acquiring an additional 891 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.