IAC (NASDAQ:IAC) Stock Rating Lowered by Wall Street Zen

IAC (NASDAQ:IAC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on the company. Truist Financial lowered their target price on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group reissued a “neutral” rating and set a $42.00 price objective on shares of IAC in a report on Friday. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Barclays reduced their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group raised their price target on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.92.

IAC Trading Up 1.6%

Shares of IAC stock opened at $35.65 on Friday. IAC has a 12-month low of $29.56 and a 12-month high of $50.49. The stock has a market capitalization of $2.55 billion, a P/E ratio of -26.80 and a beta of 1.12. The company has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $36.20. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data 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 firm had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.IAC’s quarterly revenue was down 34.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.39) earnings per share. Research analysts expect that IAC will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of IAC by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock valued at $19,087,000 after acquiring an additional 115,652 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of IAC during the first quarter worth $207,000. Empowered Funds LLC increased its holdings in IAC by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after purchasing an additional 718 shares during the last quarter. Focus Partners Wealth acquired a new position in IAC in the first quarter valued at about $270,000. Finally, KLP Kapitalforvaltning AS boosted its holdings in IAC by 13.6% during the second quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company’s stock worth $624,000 after buying an additional 2,000 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

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.