JMP Securities Reaffirms “Market Outperform” Rating for IAC (NASDAQ:IAC)

IAC (NASDAQ:IAC)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $70.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 55.97% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Truist Financial dropped their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Barclays decreased their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Finally, Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

IAC Stock Up 0.9 %

NASDAQ IAC traded up $0.41 during trading hours on Monday, reaching $44.88. 13,808 shares of the company’s stock were exchanged, compared to its average volume of 659,684. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -104.37 and a beta of 1.31. The company’s 50-day moving average is $49.88 and its two-hundred day moving average is $50.04. IAC has a one year low of $43.51 and a one year high of $58.29.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $922.62 million. During the same quarter last year, the company posted ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. Greenwich Wealth Management LLC grew its holdings in IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after buying an additional 284 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of IAC by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after buying an additional 405 shares during the last quarter. CWM LLC boosted its holdings in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. Victory Capital Management Inc. lifted its holdings in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after purchasing an additional 490 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 buying an additional 492 shares in the last quarter. 88.90% of the stock is owned by 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.