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

IAC (NASDAQ:IAC)‘s stock had its “outperform” rating restated by analysts at Macquarie in a report released on Thursday,Benzinga reports. They presently have a $14.00 target price on the stock. Macquarie’s price target indicates a potential downside of 70.18% from the company’s previous close.

Several other analysts have also recently weighed in on IAC. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday. TD Cowen dropped their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays dropped their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup reduced 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. Finally, Truist Financial dropped their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, IAC has an average rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Stock Performance

NASDAQ IAC opened at $46.95 on Thursday. The firm’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $50.88. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.18 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. IAC has a 1 year low of $43.51 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share 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 business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. IAC’s quarterly revenue was down 15.5% compared to the same quarter last year. As a group, research analysts expect that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. purchased a new stake in IAC in the first quarter worth $221,000. Russell Investments Group Ltd. increased its holdings in IAC by 29.0% in the 1st quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock worth $5,595,000 after acquiring an additional 23,567 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in IAC by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock valued at $4,619,000 after purchasing an additional 5,172 shares during the last quarter. Edgestream Partners L.P. bought a new position in IAC during the first quarter worth about $575,000. Finally, Covestor Ltd increased its stake in shares of IAC by 47.3% in the first quarter. Covestor Ltd now owns 3,825 shares of the company’s stock worth $204,000 after purchasing an additional 1,229 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other 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.