IAC Inc. (NASDAQ:IAC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $67.50.

A number of research firms have issued reports on IAC. Barclays reduced their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. TD Cowen cut their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Truist Financial decreased their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research note on Thursday, November 14th.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently made changes to their positions in IAC. Principal Financial Group Inc. increased 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 purchasing an additional 337,268 shares in the last quarter. DME Capital Management LP purchased a new stake in shares of IAC during the 2nd quarter valued at about $13,655,000. Bank of New York Mellon Corp lifted its position in IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in IAC during the 2nd quarter worth approximately $7,200,000. Finally, Marshall Wace LLP purchased a new position in IAC in the 2nd quarter worth approximately $5,644,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Down 2.7 %

Shares of IAC opened at $41.69 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 1-year low of $41.08 and a 1-year high of $58.29. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -96.95 and a beta of 1.32. The firm has a 50 day simple moving average of $46.48 and a 200-day simple moving average of $49.33.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the previous year, the business posted ($0.30) EPS. The business’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

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.