IAC/InterActiveCorp (IAC) Upgraded to Hold at Zacks Investment Research
IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “
A number of other analysts have also issued reports on IAC. Piper Jaffray Companies boosted their price target on shares of IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. TheStreet raised shares of IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $127.00 price objective (up previously from $120.00) on shares of IAC/InterActiveCorp in a research note on Wednesday, August 9th. Aegis restated a “buy” rating and issued a $125.00 price objective (up previously from $115.00) on shares of IAC/InterActiveCorp in a report on Tuesday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective (up previously from $110.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $111.95.
IAC/InterActiveCorp (NASDAQ:IAC) opened at 121.82 on Wednesday. IAC/InterActiveCorp has a 12-month low of $60.39 and a 12-month high of $122.20. The stock has a market capitalization of $9.72 billion, a P/E ratio of 43.54 and a beta of 1.14. The firm’s 50-day moving average price is $112.17 and its 200 day moving average price is $100.03.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The business had revenue of $767.39 million during the quarter, compared to analysts’ expectations of $758.01 million. IAC/InterActiveCorp had a net margin of 10.50% and a return on equity of 13.94%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. On average, equities analysts anticipate that IAC/InterActiveCorp will post $3.08 EPS for the current year.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of IAC/InterActiveCorp by 25,135.6% in the 1st quarter. BlackRock Inc. now owns 3,192,055 shares of the company’s stock valued at $235,319,000 after buying an additional 3,179,406 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in IAC/InterActiveCorp by 44.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,100 shares of the company’s stock worth $327,797,000 after acquiring an additional 975,000 shares in the last quarter. Capital Research Global Investors acquired a new stake in IAC/InterActiveCorp during the 2nd quarter worth $94,773,000. Steadfast Capital Management LP raised its stake in IAC/InterActiveCorp by 56.3% during the 2nd quarter. Steadfast Capital Management LP now owns 2,411,372 shares of the company’s stock worth $248,950,000 after acquiring an additional 868,790 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in IAC/InterActiveCorp by 359.0% during the 2nd quarter. Renaissance Technologies LLC now owns 802,027 shares of the company’s stock worth $82,801,000 after acquiring an additional 627,300 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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