Wall Street Zen Upgrades IAC (NASDAQ:IAC) to Hold

IAC (NASDAQ:IAC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group boosted their price objective on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Truist Financial lowered their price target on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Oppenheimer lowered shares of IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.83.

IAC Trading Up 1.0%

IAC stock opened at $38.32 on Friday. The firm has a fifty day moving average price of $38.05 and a 200 day moving average price of $36.07. IAC has a fifty-two week low of $29.56 and a fifty-two week high of $50.49. The firm has a market cap of $2.73 billion, a PE ratio of -28.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The business had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. During the same quarter last year, the business earned ($2.39) EPS. IAC’s revenue for the quarter was down 34.7% compared to the same quarter last year. Sell-side analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several institutional investors and hedge funds have recently made changes to their positions in IAC. Elevation Wealth Partners LLC bought a new position in shares of IAC in the fourth quarter worth about $25,000. Hantz Financial Services Inc. grew its stake in IAC by 173.4% in the 4th quarter. Hantz Financial Services Inc. now owns 782 shares of the company’s stock worth $31,000 after acquiring an additional 496 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of IAC during the third quarter worth approximately $38,000. JFS Wealth Advisors LLC purchased a new position in shares of IAC during the third quarter worth approximately $39,000. Finally, Quarry LP bought a new stake in shares of IAC during the fourth quarter valued at approximately $59,000. 88.90% of the stock is currently owned by 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.