IAC Inc. (NASDAQ:IAC) Given Average Rating of “Moderate Buy” by Analysts

Shares of IAC Inc. (NASDAQ:IAC) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $67.50.

Several brokerages have recently issued reports on IAC. KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. UBS Group upgraded IAC to a “hold” rating in a report on Monday, October 28th. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Finally, TD Cowen dropped their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently modified their holdings of IAC. Greenwich Wealth Management LLC grew its position in shares of IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after purchasing an additional 284 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after purchasing an additional 405 shares during the period. Victory Capital Management Inc. grew its holdings in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after buying an additional 490 shares in the last quarter. GAMMA Investing LLC raised its position in shares of IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of IAC by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock worth $870,000 after buying an additional 553 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

Shares of IAC stock opened at $43.57 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC has a one year low of $41.08 and a one year high of $58.29. The business’s 50 day simple moving average is $46.83 and its two-hundred day simple moving average is $49.42. The stock has a market capitalization of $3.51 billion, a P/E ratio of -101.32 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm 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%. IAC’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS. Analysts forecast that IAC will post -3.97 EPS for the current 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.