IAC (NASDAQ:IAC) Receives “Outperform” Rating from Macquarie

IAC (NASDAQ:IAC)‘s stock had its “outperform” rating reissued by Macquarie in a note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 target price on the stock. Macquarie’s target price would indicate a potential downside of 70.54% from the company’s previous close.

Several other research analysts have also commented on IAC. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays decreased their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday. TD Cowen reduced their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday. KeyCorp reduced 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. Finally, Truist Financial dropped their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.91.

IAC Trading Up 1.1 %

Shares of IAC stock traded up $0.51 during mid-day trading on Thursday, reaching $47.52. The company’s stock had a trading volume of 481,589 shares, compared to its average volume of 663,105. The company’s 50 day simple moving average is $52.13 and its 200-day simple moving average is $50.91. IAC has a 12-month low of $43.51 and a 12-month 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 firm has a market capitalization of $3.82 billion, a PE ratio of -110.02 and a beta of 1.33.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same period last year, the firm earned ($0.30) EPS. The business’s quarterly revenue was down 15.5% on a year-over-year basis. On average, research analysts predict that IAC will post -0.79 EPS for the current fiscal year.

Institutional Trading of IAC

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of IAC in the second quarter worth $39,000. GAMMA Investing LLC raised its stake in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the last quarter. CWM LLC raised its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in IAC during the 2nd quarter valued at $60,000. Finally, Innealta Capital LLC acquired a new position in shares of IAC in the 2nd quarter valued at $146,000. 88.90% of the stock is owned by institutional investors.

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.