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

IAC (NASDAQ:IAC)‘s stock had its “outperform” rating restated by investment analysts at Macquarie in a research report issued on Thursday,Benzinga reports. They currently have a $14.00 target price on the stock. Macquarie’s target price indicates a potential downside of 70.18% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of IAC in a report on Tuesday. UBS Group raised shares of IAC to a “hold” rating in a report on Monday, October 28th. KeyCorp dropped their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Price Performance

NASDAQ IAC opened at $46.95 on Thursday. The company has a market cap of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33. IAC has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $50.88.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) EPS. On average, sell-side analysts predict that IAC will post -0.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IAC. Principal Financial Group Inc. grew 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 buying an additional 337,268 shares in the last quarter. DME Capital Management LP acquired a new position in shares of IAC during the 2nd quarter worth approximately $13,655,000. Bank of New York Mellon Corp increased its holdings in shares of IAC by 113.4% during the second 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 period. Swedbank AB acquired a new stake in shares of IAC in the first quarter valued at approximately $11,460,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of IAC in the second quarter valued at approximately $7,200,000. 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.