UBS Group Upgrades IAC (NASDAQ:IAC) to Hold

UBS Group upgraded shares of IAC (NASDAQ:IAC) to a hold rating in a report released on Monday morning, Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Barclays dropped their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. KeyCorp reduced their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Truist Financial upped their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup decreased their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.40.

IAC Stock Performance

IAC stock opened at $51.36 on Monday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.12 billion, a PE ratio of -32.51 and a beta of 1.32. The business has a 50 day moving average of $52.35 and a 200-day moving average of $50.71. IAC has a 12-month low of $41.39 and a 12-month high of $58.29.

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

Hedge Funds Weigh In On IAC

Several hedge funds have recently bought and sold shares of IAC. Edgestream Partners L.P. purchased a new position in shares of IAC during the 1st quarter valued at $575,000. Louisiana State Employees Retirement System bought a new stake in shares of IAC during the 2nd quarter valued at about $1,649,000. Highbridge Capital Management LLC grew its holdings in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after purchasing an additional 68,291 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares during the last quarter. Finally, Swedbank AB purchased a new stake in IAC in the first quarter valued at approximately $11,460,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.