IAC Inc. (NASDAQ:IAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of IAC Inc. (NASDAQ:IAC) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $76.40.

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp cut their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. JMP Securities initiated coverage on shares of IAC in a research note on Tuesday, July 9th. They set an “outperform” rating and a $78.00 target price for the company. Finally, Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, August 27th.

IAC Stock Down 1.1 %

NASDAQ:IAC opened at $51.15 on Friday. IAC has a 12 month low of $41.39 and a 12 month high of $58.29. The firm has a fifty day simple moving average of $52.35 and a 200-day simple moving average of $50.69. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The business had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. During the same period last year, the business earned ($0.76) EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts expect that IAC will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently bought and sold shares of IAC. Riverview Trust Co acquired a new position in IAC in the 1st quarter valued at about $27,000. Parkside Investments LLC boosted its holdings in IAC by 16.2% in the 1st quarter. Parkside Investments LLC now owns 204,854 shares of the company’s stock valued at $10,927,000 after purchasing an additional 28,585 shares during the last quarter. Chemistry Wealth Management LLC boosted its holdings in IAC by 27.1% in the 1st quarter. Chemistry Wealth Management LLC now owns 18,541 shares of the company’s stock valued at $989,000 after purchasing an additional 3,949 shares during the last quarter. Investment Partners Asset Management Inc. boosted its holdings in IAC by 11.1% in the 1st quarter. Investment Partners Asset Management Inc. now owns 7,580 shares of the company’s stock valued at $404,000 after purchasing an additional 755 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in IAC by 32.1% in the 1st quarter. Principal Financial Group Inc. now owns 6,161 shares of the company’s stock valued at $329,000 after purchasing an additional 1,497 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.