IAC Inc. (NASDAQ:IAC) Receives $47.62 Average PT from Analysts

IAC Inc. (NASDAQ:IAC) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.6154.

IAC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC set a $57.00 target price on shares of IAC in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Zacks Research raised shares of IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th.

Institutional Investors Weigh In On IAC

Institutional investors have recently made changes to their positions in the company. Aristeia Capital L.L.C. increased its holdings in IAC by 100.7% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company’s stock worth $222,966,000 after buying an additional 2,861,871 shares during the last quarter. Corvex Management LP lifted its stake in IAC by 20.3% in the fourth quarter. Corvex Management LP now owns 3,355,075 shares of the company’s stock valued at $131,183,000 after acquiring an additional 566,696 shares during the last quarter. Bank of Montreal Can grew its position in IAC by 42,721.4% in the fourth quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock worth $122,309,000 after acquiring an additional 3,120,799 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in IAC by 73.8% in the second quarter. Burgundy Asset Management Ltd. now owns 2,517,797 shares of the company’s stock worth $94,015,000 after acquiring an additional 1,069,044 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in shares of IAC by 12.1% during the 4th quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock worth $98,301,000 after purchasing an additional 270,383 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Up 0.7%

Shares of IAC stock opened at $39.12 on Friday. IAC has a 1 year low of $29.56 and a 1 year high of $46.31. The company has a market cap of $2.78 billion, a P/E ratio of -29.41 and a beta of 1.09. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $37.46 and a 200 day moving average price of $36.37.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.66). The business had revenue of $645.98 million for the quarter, compared to analysts’ expectations of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company’s revenue was down 34.7% compared to the same quarter last year. During the same period last year, the firm earned ($2.39) EPS. As a group, analysts expect that IAC will post 0.43 EPS for the current fiscal year.

About IAC

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.