IAC (NASDAQ:IAC) Stock Rating Upgraded by Wall Street Zen

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

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Benchmark decreased their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. UBS Group lowered their target price on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Barclays cut their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Truist Financial lowered their price target on IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.73.

IAC Trading Up 1.6%

IAC stock opened at $36.76 on Friday. IAC has a one year low of $29.56 and a one year high of $50.49. The company’s fifty day moving average price is $33.66 and its two-hundred day moving average price is $35.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -13.47 and a beta of 1.18.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.IAC’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.93) EPS. On average, analysts forecast that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ovata Capital Management Ltd lifted its position in IAC by 27.2% during the third quarter. Ovata Capital Management Ltd now owns 70,098 shares of the company’s stock worth $2,388,000 after acquiring an additional 15,000 shares during the last quarter. Advisory Services Network LLC acquired a new stake in IAC during the 3rd quarter worth approximately $38,000. Jacobs Levy Equity Management Inc. boosted its stake in IAC by 361.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 62,524 shares of the company’s stock valued at $2,130,000 after purchasing an additional 48,980 shares during the period. Caxton Associates LLP bought a new stake in IAC in the 3rd quarter valued at $294,000. Finally, Whitebox Advisors LLC grew its holdings in IAC by 17.5% in the 3rd quarter. Whitebox Advisors LLC now owns 375,808 shares of the company’s stock valued at $12,804,000 after buying an additional 55,900 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.