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

IAC Inc. (NASDAQ:IAC) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.40.

IAC has been the subject of a number of research analyst reports. JMP Securities initiated coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price target for the company. KeyCorp cut their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Finally, Barclays cut their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th.

IAC Stock Down 1.5 %

Shares of IAC stock opened at $52.01 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $4.18 billion, a PE ratio of -32.92 and a beta of 1.32. IAC has a 52-week low of $41.39 and a 52-week high of $58.29. The company has a 50-day simple moving average of $52.34 and a two-hundred day simple moving average of $50.68.

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

Institutional Investors Weigh In On IAC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tandem Capital Management Corp ADV raised its stake in shares of IAC by 0.6% in the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock valued at $2,192,000 after acquiring an additional 260 shares during the period. Greenwich Wealth Management LLC raised its stake in shares of IAC by 3.0% in the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after acquiring an additional 284 shares during the period. CWM LLC raised its stake in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the period. GAMMA Investing LLC grew its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of IAC in the first quarter worth about $27,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.