IAC (NASDAQ:IAC) Upgraded at UBS Group

UBS Group upgraded shares of IAC (NASDAQ:IAC) to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

Other analysts also recently issued reports about the company. Barclays decreased their price target on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial lifted their target price on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, August 27th. Finally, KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Stock Performance

IAC stock opened at $47.95 on Monday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC has a 1-year low of $41.39 and a 1-year high of $58.29. The stock has a 50-day moving average price of $52.27 and a 200-day moving average price of $50.70. The firm has a market cap of $3.85 billion, a PE ratio of -30.35 and a beta of 1.32.

IAC (NASDAQ:IAC) last issued its 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 firm had revenue of $949.50 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) earnings per share. As a group, equities research analysts expect that IAC will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On IAC

A number of hedge funds and other institutional investors have recently modified their holdings of IAC. International Assets Investment Management LLC purchased a new position in shares of IAC during the second quarter valued at approximately $39,000. 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 acquiring an additional 492 shares during the period. CWM LLC lifted its stake in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the period. 1620 Investment Advisors Inc. bought a new position in IAC in the 2nd quarter worth $60,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of IAC during the 1st quarter valued at about $80,000. Institutional investors own 88.90% of the company’s stock.

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.