IAC (NASDAQ:IAC) Earns “Outperform” Rating from Macquarie

Macquarie reissued 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.

A number of other research firms have also issued reports on IAC. Citigroup lowered their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial lowered their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. TD Cowen decreased their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Finally, KeyCorp dropped their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Trading Down 0.1 %

IAC opened at $46.95 on Thursday. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The business’s 50 day moving average is $51.97 and its two-hundred day moving average is $50.89. 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 (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) EPS. Analysts predict that IAC will post -3.97 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently made changes to their positions in IAC. Principal Financial Group Inc. increased its holdings in IAC by 5,474.2% in the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after buying an additional 337,268 shares in the last quarter. DME Capital Management LP acquired a new stake in shares of IAC in the 2nd quarter worth approximately $13,655,000. Bank of New York Mellon Corp increased its stake in IAC by 113.4% in the 2nd 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 in the last quarter. Swedbank AB acquired a new position in IAC during the first quarter worth $11,460,000. Finally, Public Sector Pension Investment Board purchased a new stake in IAC during the second quarter worth $7,200,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.