IAC (NASDAQ:IAC) Rating Lowered to “Strong Sell” at Zacks Research

IAC (NASDAQ:IAC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Wall Street Zen lowered shares of IAC from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Truist Financial cut their price target on IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. KeyCorp dropped their price target on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Finally, Jefferies Financial Group upped their price objective on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.83.

IAC Stock Performance

Shares of IAC opened at $35.71 on Tuesday. IAC has a 52-week low of $29.56 and a 52-week high of $50.49. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -26.85 and a beta of 1.12. The business’s 50 day moving average is $38.53 and its two-hundred day moving average is $36.14.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) 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 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 company’s revenue was down 34.7% on a year-over-year basis. During the same period in the prior year, the company earned ($2.39) earnings per share. Analysts forecast that IAC will post 0.43 EPS for the current fiscal year.

Institutional Trading of IAC

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC bought a new stake in IAC in the fourth quarter worth approximately $541,000. LPL Financial LLC increased its position in IAC by 8.5% during the fourth quarter. LPL Financial LLC now owns 41,592 shares of the company’s stock worth $1,626,000 after buying an additional 3,268 shares during the last quarter. Franklin Resources Inc. raised its holdings in IAC by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 6,439 shares of the company’s stock valued at $252,000 after buying an additional 471 shares in the last quarter. State of Wyoming acquired a new stake in shares of IAC in the fourth quarter worth about $314,000. Finally, Factorial Partners LLC lifted its position in shares of IAC by 41.2% in the fourth quarter. Factorial Partners LLC now owns 48,000 shares of the company’s stock worth $1,877,000 after buying an additional 14,000 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.