Todays Report: The IAC/InterActive (IAC) Rating Increased to Buy at Zacks Investment Research

The IAC/InterActive (IAC) Rating Increased to Buy at Zacks Investment Research

IAC/InterActive (NYSE:IAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $70.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 13.42% from the company’s current price.

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. “

Other analysts have also issued research reports about the company. Jefferies Group restated a “hold” rating and issued a $60.00 price objective on shares of IAC/InterActive in a report on Monday, July 25th. Susquehanna restated a “positive” rating and issued a $74.00 price objective on shares of IAC/InterActive in a report on Monday, August 8th. SunTrust Banks Inc. restated a “buy” rating and issued a $73.00 price objective (up previously from $70.00) on shares of IAC/InterActive in a report on Wednesday. Axiom Securities restated a “buy” rating and issued a $80.00 price objective (up previously from $74.00) on shares of IAC/InterActive in a report on Friday, October 7th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $75.00 price objective on shares of IAC/InterActive in a report on Tuesday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. IAC/InterActive has an average rating of “Buy” and an average price target of $69.50.

IAC/InterActive (NYSE:IAC) opened at 61.72 on Wednesday. The firm’s market capitalization is $4.91 billion. IAC/InterActive has a 1-year low of $38.82 and a 1-year high of $72.94. The stock has a 50 day moving average price of $60.32 and a 200 day moving average price of $55.61.

IAC/InterActive (NYSE:IAC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm earned $745.40 million during the quarter, compared to analyst estimates of $748.73 million. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. Analysts predict that IAC/InterActive will post $2.58 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of IAC. Becker Capital Management Inc. purchased a new position in shares of IAC/InterActive during the second quarter worth approximately $26,681,000. Palisade Capital Management LLC NJ purchased a new position in shares of IAC/InterActive during the second quarter worth approximately $3,246,000. Royal London Asset Management Ltd. purchased a new position in shares of IAC/InterActive during the second quarter worth approximately $1,363,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of IAC/InterActive during the second quarter worth approximately $757,000. Finally, Oxbow Advisors LLC purchased a new position in shares of IAC/InterActive during the second quarter worth approximately $3,656,000.

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