IAC Inc. (NASDAQ:IAC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• IAC Inc. has received a consensus rating of "Moderate Buy" from fifteen analysts, with a price objective averaging $47.92.
• The company recently reported an EPS of $2.57, significantly beating the consensus estimate, but revenue of $586.93 million fell short of expectations.
• Institutional investors hold a significant share of IAC, owning 88.90% of the company, highlighting strong interest in the stock.

IAC Inc. (NASDAQ:IAC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $47.9231.

Several analysts recently commented on IAC shares. JMP Securities cut their price objective on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 10th. Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler dropped their price target on shares of IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IAC in a report on Saturday, September 27th. Finally, Benchmark dropped their price target on shares of IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th.

Institutional Trading of IAC

Institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC boosted its holdings in shares of IAC by 64.8% during the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company's stock valued at $146,000 after acquiring an additional 1,253 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of IAC in the 1st quarter worth approximately $1,107,000. Royal Bank of Canada lifted its stake in shares of IAC by 12.7% in the 1st quarter. Royal Bank of Canada now owns 449,115 shares of the company's stock worth $20,632,000 after purchasing an additional 50,463 shares during the period. Maverick Capital Ltd. lifted its stake in shares of IAC by 112.7% in the 1st quarter. Maverick Capital Ltd. now owns 18,874 shares of the company's stock worth $867,000 after purchasing an additional 10,000 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of IAC in the 1st quarter worth approximately $2,590,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Performance

Shares of IAC stock opened at $34.59 on Friday. IAC has a one year low of $32.04 and a one year high of $55.16. The company's 50-day moving average is $36.08 and its 200 day moving average is $37.36. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -6.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company had revenue of $586.93 million for the quarter, compared to the consensus estimate of $601.38 million. During the same period in the prior year, the firm posted ($1.71) EPS. IAC's revenue for the quarter was down 7.5% on a year-over-year basis. Sell-side analysts expect that IAC will post 0.43 EPS for the current fiscal year.

About IAC

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.

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