IAC Inc. (NASDAQ:IAC) Receives $46.67 Consensus Target Price from Analysts

IAC Inc. (NASDAQ:IAC) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $46.9167.

A number of research analysts have commented on the stock. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. 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 research note on Thursday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Wall Street Zen downgraded shares of IAC from a “hold” rating to a “sell” rating in a report on Saturday. Finally, KeyCorp decreased their price target on IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd.

Institutional Trading of IAC

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in IAC during the 2nd quarter worth about $2,924,000. Permanent Capital Management LP purchased a new position in shares of IAC in the 3rd quarter valued at about $1,732,000. Levin Capital Strategies L.P. grew its position in shares of IAC by 503.3% during the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock worth $16,077,000 after buying an additional 359,180 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of IAC by 20.5% during the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after buying an additional 1,117,313 shares during the period. Finally, AlphaQuest LLC raised its holdings in IAC by 1,127.5% in the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock valued at $1,406,000 after acquiring an additional 37,896 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Trading Up 1.6%

Shares of IAC stock opened at $35.65 on Friday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -26.80 and a beta of 1.12. IAC has a fifty-two week low of $29.56 and a fifty-two week high of $50.49. 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 50 day moving average of $38.53 and a 200 day moving average of $36.20.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). The business had revenue of $645.98 million during 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%. The business’s revenue for the quarter was down 34.7% on a year-over-year basis. During the same period last year, the company earned ($2.39) EPS. As a group, research analysts predict that IAC will post 0.43 earnings per share for the current year.

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.