Zacks Investment Research Downgrades IAC/InterActiveCorp (NASDAQ:IAC) to Sell

IAC/InterActiveCorp (NASDAQ:IAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “

IAC has been the subject of a number of other research reports. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $114.00 target price (up previously from $94.00) on shares of IAC/InterActiveCorp in a report on Friday, May 5th. Guggenheim upgraded IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, May 5th. BMO Capital Markets dropped their price target on IAC/InterActiveCorp from $115.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, May 3rd. Cowen and Company reiterated an “outperform” rating and set a $90.00 price target on shares of IAC/InterActiveCorp in a research report on Monday, April 24th. Finally, Jefferies Group LLC upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $92.00 in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $107.20.

IAC/InterActiveCorp (NASDAQ IAC) opened at 105.28 on Tuesday. The company has a 50 day moving average of $104.54 and a 200 day moving average of $88.20. IAC/InterActiveCorp has a 1-year low of $56.41 and a 1-year high of $109.80. The firm has a market capitalization of $8.31 billion, a P/E ratio of 38.28 and a beta of 1.14.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.24. The business had revenue of $767.39 million during the quarter, compared to analyst estimates of $758.01 million. IAC/InterActiveCorp had a return on equity of 9.16% and a net margin of 7.66%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that IAC/InterActiveCorp will post $3.06 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in IAC/InterActiveCorp by 25,135.6% in the first quarter. BlackRock Inc. now owns 3,192,055 shares of the company’s stock worth $235,319,000 after buying an additional 3,179,406 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of IAC/InterActiveCorp by 44.3% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,100 shares of the company’s stock valued at $327,797,000 after buying an additional 975,000 shares during the last quarter. First Manhattan Co. increased its stake in shares of IAC/InterActiveCorp by 11,770.5% in the second quarter. First Manhattan Co. now owns 563,850 shares of the company’s stock valued at $58,211,000 after buying an additional 559,100 shares during the last quarter. Henderson Group PLC bought a new stake in shares of IAC/InterActiveCorp during the first quarter valued at $28,156,000. Finally, Acadian Asset Management LLC increased its stake in shares of IAC/InterActiveCorp by 215.6% in the second quarter. Acadian Asset Management LLC now owns 503,578 shares of the company’s stock valued at $51,986,000 after buying an additional 344,024 shares during the last quarter. Institutional investors own 85.22% of the company’s stock.

About IAC/InterActiveCorp

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.

Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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