IAC (NASDAQ:IAC) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of IAC (NASDAQ:IAC) in a research report released on Monday,Benzinga reports. JMP Securities currently has a $70.00 target price on the stock.

A number of other research analysts have also weighed in on IAC. Macquarie reaffirmed an “outperform” rating and set a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Barclays reduced their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. TD Cowen lowered their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.33.

IAC Stock Down 4.3 %

IAC stock opened at $42.21 on Monday. The stock has a market capitalization of $3.40 billion, a PE ratio of -98.16 and a beta of 1.31. The company has a fifty day moving average of $49.38 and a 200-day moving average of $49.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC has a one year low of $42.15 and a one year high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the previous year, the business earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, analysts expect that IAC will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. SG Americas Securities LLC acquired a new position in IAC in the 2nd quarter valued at about $312,000. 1620 Investment Advisors Inc. purchased a new position in IAC in the 2nd quarter valued at about $60,000. Louisiana State Employees Retirement System purchased a new position in IAC in the 2nd quarter valued at about $1,649,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.