IAC/InterActive (IAC) Receives “Buy” Rating from SunTrust Banks Inc.
IAC/InterActive (NYSE:IAC)‘s stock had its “buy” rating reissued by SunTrust Banks Inc. in a report released on Wednesday. They presently have a $73.00 target price on the stock, up from their prior target price of $70.00. SunTrust Banks Inc.’s target price would suggest a potential upside of 17.74% from the stock’s current price.
A number of other research analysts have also recently commented on IAC. Jefferies Group reiterated a “hold” rating on shares of IAC/InterActive in a report on Monday, July 11th. Zacks Investment Research cut IAC/InterActive from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Axiom Securities reiterated a “buy” rating and issued a $80.00 price objective (up from $74.00) on shares of IAC/InterActive in a report on Friday, October 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price objective on shares of IAC/InterActive in a report on Friday, July 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective (up from $62.00) on shares of IAC/InterActive in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.06.
IAC/InterActive (NYSE:IAC) traded down 0.29% during midday trading on Wednesday, hitting $61.82. The stock had a trading volume of 114,875 shares. The firm has a 50-day moving average of $60.05 and a 200-day moving average of $55.52. IAC/InterActive has a 12-month low of $38.82 and a 12-month high of $72.94. The company’s market cap is $4.92 billion.
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IAC/InterActive (NYSE:IAC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The firm earned $745.40 million during the quarter, compared to analyst estimates of $748.73 million. IAC/InterActive’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Equities research analysts forecast that IAC/InterActive will post $2.58 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. American International Group Inc. acquired a new position in IAC/InterActive during the second quarter valued at approximately $105,000. NCM Capital Advisers Inc. acquired a new position in IAC/InterActive during the second quarter valued at approximately $126,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in IAC/InterActive during the second quarter valued at approximately $135,000. 1832 Asset Management L.P. acquired a new position in IAC/InterActive during the second quarter valued at approximately $161,000. Finally, Tower Research Capital LLC TRC acquired a new position in IAC/InterActive during the second quarter valued at approximately $192,000.
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