IAC Inc. (NASDAQ:IAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $76.40.

A number of research firms recently commented on IAC. Barclays dropped their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. KeyCorp cut their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. JMP Securities started coverage on shares of IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective for the company. Citigroup lowered their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial boosted their price target on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

IAC Price Performance

IAC opened at $54.07 on Tuesday. The firm has a market capitalization of $4.34 billion, a P/E ratio of -34.22 and a beta of 1.32. The stock has a fifty day moving average of $51.17 and a 200-day moving average of $50.58. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC has a 12-month low of $41.39 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The company had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. IAC’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the company earned ($0.76) earnings per share. Equities analysts forecast that IAC will post -0.79 EPS for the current fiscal year.

Institutional Trading of IAC

Institutional investors have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC boosted its stake in IAC by 1.3% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock valued at $786,000 after buying an additional 196 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in shares of IAC by 0.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after purchasing an additional 260 shares during the last quarter. Greenwich Wealth Management LLC grew its holdings in shares of IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after purchasing an additional 284 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of IAC by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock worth $1,721,000 after purchasing an additional 320 shares in the last quarter. Finally, CWM LLC lifted its holdings in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 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.