IAC’s (IAC) “Outperform” Rating Reiterated at Macquarie

Macquarie restated their outperform rating on shares of IAC (NASDAQ:IAC) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $14.00 price target on the stock.

A number of other equities research analysts have also weighed in on IAC. Barclays reduced their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. KeyCorp dropped their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Truist Financial dropped their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.91.

IAC Price Performance

IAC stock opened at $46.95 on Thursday. The firm has a market cap of $3.78 billion, a PE ratio of -109.19 and a beta of 1.33. IAC has a 52-week low of $43.51 and a 52-week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $51.97 and its two-hundred day moving average is $50.91.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts expect that IAC will post -3.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in IAC during the 2nd quarter worth $39,000. GAMMA Investing LLC grew its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the last quarter. Quarry LP boosted its holdings in shares of IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after acquiring an additional 785 shares in the last quarter. CWM LLC boosted its holdings in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of IAC in the second quarter valued at about $60,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Company Profile

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.