Wall Street Zen Upgrades IAC (NASDAQ:IAC) to “Hold”

IAC (NASDAQ:IAC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

IAC has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Wednesday, October 8th. Barclays cut their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Jefferies Financial Group boosted their target price on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, UBS Group dropped their price target on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.67.

IAC Trading Down 1.0%

Shares of IAC stock opened at $39.46 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a fifty day simple moving average of $37.75 and a two-hundred day simple moving average of $36.46. The firm has a market capitalization of $2.83 billion, a PE ratio of -14.45 and a beta of 1.10. IAC has a 52-week low of $29.56 and a 52-week high of $50.49.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The business had revenue of $589.79 million during the quarter, compared to the consensus estimate of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The business’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the company earned ($2.93) EPS. On average, analysts predict that IAC will post 0.43 EPS for the current fiscal year.

Institutional Trading of IAC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in IAC by 38.6% during the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after buying an additional 115,652 shares during the period. United Services Automobile Association bought a new stake in shares of IAC in the 1st quarter worth about $207,000. Empowered Funds LLC boosted its stake in shares of IAC by 9.8% during the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after purchasing an additional 718 shares during the period. Focus Partners Wealth bought a new position in IAC during the 1st quarter valued at about $270,000. Finally, Assenagon Asset Management S.A. purchased a new stake in IAC in the 2nd quarter worth about $894,000. 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.