Zacks Research Upgrades IAC (NASDAQ:IAC) to Hold

IAC (NASDAQ:IAC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

IAC has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup upped their price objective on IAC from $38.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, UBS Group reiterated a “neutral” rating and issued a $42.00 price target on shares of IAC in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Stock Up 0.4%

Shares of IAC stock traded up $0.16 on Wednesday, hitting $37.44. The company had a trading volume of 209,760 shares, compared to its average volume of 1,088,616. The stock has a 50-day moving average of $37.69 and a 200-day moving average of $36.20. The firm has a market capitalization of $2.66 billion, a P/E ratio of -28.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. IAC has a twelve month low of $29.56 and a twelve month high of $50.49.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. During the same quarter in the previous year, the company posted ($2.39) EPS. The business’s revenue for the quarter was down 34.7% compared to the same quarter last year. Research analysts predict that IAC will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several institutional investors have recently made changes to their positions in the company. Elevation Wealth Partners LLC purchased a new stake in IAC during the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its stake in shares of IAC by 173.4% in the fourth quarter. Hantz Financial Services Inc. now owns 782 shares of the company’s stock worth $31,000 after buying an additional 496 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of IAC during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC purchased a new position in IAC in the third quarter valued at $39,000. Finally, Quarry LP acquired a new position in IAC in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.