IAC’s (IAC) “Outperform” Rating Reiterated at Macquarie

Macquarie reiterated their outperform rating on shares of IAC (NASDAQ:IAC) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $14.00 price objective on the stock.

Several other analysts have also recently commented on the stock. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial cut their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Finally, Barclays cut their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Down 0.1 %

Shares of NASDAQ IAC opened at $46.95 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The firm has a 50-day moving average price of $51.97 and a 200 day moving average price of $50.91. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.19 and a beta of 1.33.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same quarter last year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. Equities research analysts anticipate that IAC will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of hedge funds and other institutional investors have recently modified their holdings of IAC. Principal Financial Group Inc. grew its holdings in shares of IAC by 5,474.2% during the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after buying an additional 337,268 shares in the last quarter. DME Capital Management LP purchased a new stake in IAC in the second quarter valued at approximately $13,655,000. Bank of New York Mellon Corp grew its holdings in IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the period. Swedbank AB purchased a new stake in IAC in the first quarter valued at approximately $11,460,000. Finally, Public Sector Pension Investment Board purchased a new stake in IAC in the second quarter valued at approximately $7,200,000. 88.90% of the stock is currently owned by hedge funds and other 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.