IAC Inc. (NASDAQ:IAC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $70.91.

IAC has been the topic of a number of recent analyst reports. Macquarie reissued an “outperform” rating and set a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. TD Cowen decreased their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Barclays dropped 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. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Finally, UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently made changes to their positions in IAC. Principal Financial Group Inc. increased its holdings in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after purchasing an additional 337,268 shares in the last quarter. DME Capital Management LP acquired a new stake in shares of IAC in the second quarter valued at about $13,655,000. Bank of New York Mellon Corp raised its holdings 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 valued at $24,891,000 after buying an additional 282,304 shares during the period. Swedbank AB acquired a new position in IAC during the 1st quarter worth approximately $11,460,000. Finally, Public Sector Pension Investment Board purchased a new position in IAC in the 2nd quarter worth approximately $7,200,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Up 0.9 %

IAC stock opened at $47.65 on Wednesday. The stock has a 50-day moving average price of $51.87 and a 200 day moving average price of $50.81. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The stock has a market cap of $3.83 billion, a PE ratio of -110.81 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share 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 period in the prior year, the firm earned ($0.30) EPS. The business’s quarterly revenue was down 15.5% on a year-over-year basis. Equities research analysts predict that IAC will post -3.97 earnings per share for the current fiscal year.

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.