IAC/InterActive (IAC) Receives “Buy” Rating from SunTrust Banks Inc.
IAC/InterActive (NYSE:IAC)‘s stock had its “buy” rating restated by equities research analysts at SunTrust Banks Inc. in a research report issued on Wednesday. They currently have a $73.00 price objective on the stock, up from their prior price objective of $70.00. SunTrust Banks Inc.’s target price would suggest a potential upside of 17.74% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. began coverage on IAC/InterActive in a report on Tuesday. They set an “overweight” rating and a $78.00 price target on the stock. Axiom Securities reaffirmed a “buy” rating and set a $80.00 price target (up from $74.00) on shares of IAC/InterActive in a report on Friday, October 7th. Zacks Investment Research downgraded IAC/InterActive from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 28th. Wells Fargo & Co. raised IAC/InterActive from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price target on shares of IAC/InterActive in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $69.06.
IAC/InterActive (NYSE:IAC) traded down 0.29% during trading on Wednesday, hitting $61.82. 114,875 shares of the stock were exchanged. The stock’s market capitalization is $4.92 billion. The firm has a 50-day moving average of $60.05 and a 200-day moving average of $55.52. IAC/InterActive has a 52 week low of $38.82 and a 52 week high of $72.94.
IAC/InterActive (NYSE:IAC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The firm earned $745.40 million during the quarter, compared to analysts’ expectations of $748.73 million. IAC/InterActive’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that IAC/InterActive will post $2.58 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Howard Hughes Medical Institute acquired a new stake in IAC/InterActive during the second quarter valued at about $402,000. Contrarius Investment Management Ltd acquired a new stake in IAC/InterActive during the second quarter valued at about $3,104,000. KBC Group NV acquired a new stake in IAC/InterActive during the second quarter valued at about $1,777,000. Swiss National Bank acquired a new stake in IAC/InterActive during the second quarter valued at about $7,178,000. Finally, Suntrust Banks Inc. acquired a new stake in IAC/InterActive during the second quarter valued at about $318,000.
IAC/InterActive Company Profile
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