IAC Inc. (NASDAQ:IAC) Receives Average Rating of “Moderate Buy” from Brokerages

IAC Inc. (NASDAQ:IAC) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $79.92.

IAC has been the subject of a number of analyst reports. StockNews.com cut shares of IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Oppenheimer boosted their price objective on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Citigroup reduced their price objective on shares of IAC from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Truist Financial boosted their price objective on shares of IAC from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, KeyCorp boosted their target price on shares of IAC from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th.

IAC Price Performance

NASDAQ IAC opened at $47.19 on Friday. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.79 billion, a PE ratio of -29.87 and a beta of 1.34. The company has a 50 day moving average price of $50.43 and a two-hundred day moving average price of $51.61. IAC has a 12-month low of $41.39 and a 12-month high of $69.85.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.21. The firm had revenue of $929.68 million during the quarter, compared to analysts’ expectations of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. As a group, equities analysts predict that IAC will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

Several institutional investors and hedge funds have recently bought and sold shares of IAC. Riverview Trust Co bought a new stake in shares of IAC in the 1st quarter worth about $27,000. Geneos Wealth Management Inc. bought a new stake in shares of IAC in the 1st quarter worth about $80,000. Covestor Ltd grew its holdings in shares of IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares during the last quarter. Headlands Technologies LLC lifted its position in IAC by 106.2% during the 1st quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock worth $187,000 after buying an additional 1,803 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in IAC during the 4th quarter worth about $203,000. Institutional investors own 88.90% of the company’s stock.

About IAC

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.