IAC (NASDAQ:IAC) Now Covered by JMP Securities

Analysts at JMP Securities initiated coverage on shares of IAC (NASDAQ:IAC) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $78.00 price target on the stock. JMP Securities’ price objective would suggest a potential upside of 64.07% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Barclays raised their price target on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Oppenheimer lifted their price target on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Wells Fargo & Company boosted their target price on IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. KeyCorp lifted their price objective on IAC from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Citigroup reduced their target price 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. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.77.

IAC Price Performance

IAC stock opened at $47.54 on Tuesday. The company’s fifty day simple moving average is $50.06 and its 200 day simple moving average is $51.25. IAC has a 12-month low of $41.39 and a 12-month high of $69.85. 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 firm has a market cap of $3.82 billion, a price-to-earnings ratio of -30.09 and a beta of 1.32.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of IAC by 9.4% in the 3rd quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock worth $770,000 after buying an additional 1,315 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in IAC by 14.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 194,635 shares of the company’s stock valued at $9,808,000 after acquiring an additional 24,935 shares during the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in IAC during the fourth quarter valued at about $345,000. Parkside Investments LLC raised its holdings in shares of IAC by 13.8% during the 4th quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock valued at $9,233,000 after buying an additional 21,400 shares in the last quarter. Finally, Chemistry Wealth Management LLC boosted its stake in IAC by 14.5% in the fourth quarter. Chemistry Wealth Management LLC now owns 14,592 shares of the company’s stock worth $764,000 after buying an additional 1,845 shares in the last quarter. 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.