IAC/InterActiveCorp (NASDAQ:IAC) Downgraded by JPMorgan Chase & Co. to Neutral

IAC/InterActiveCorp (NASDAQ:IAC) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports. They currently have a $245.00 price objective on the stock, down from their prior price objective of $300.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.39% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages have also issued reports on IAC. ValuEngine raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price target on IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Bank of America lifted their price target on IAC/InterActiveCorp from $340.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Aegis reaffirmed a “buy” rating and set a $320.00 price target on shares of IAC/InterActiveCorp in a research note on Tuesday, September 3rd. Finally, Oppenheimer lifted their price target on IAC/InterActiveCorp from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the stock. IAC/InterActiveCorp has an average rating of “Buy” and a consensus price target of $286.95.

IAC/InterActiveCorp stock traded down $0.79 during midday trading on Friday, hitting $219.95. 848,300 shares of the company’s stock were exchanged, compared to its average volume of 781,789. IAC/InterActiveCorp has a 52-week low of $158.29 and a 52-week high of $268.72. The stock has a 50-day moving average price of $224.79 and a two-hundred day moving average price of $231.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market cap of $18.72 billion, a P/E ratio of 39.35 and a beta of 0.90.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.33. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that IAC/InterActiveCorp will post 4.44 earnings per share for the current year.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $228.37, for a total transaction of $228,370.00. Also, EVP Gregg Winiarski sold 73,409 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $253.54, for a total value of $18,612,117.86. Following the transaction, the executive vice president now directly owns 206,342 shares of the company’s stock, valued at approximately $52,315,950.68. The disclosure for this sale can be found here. In the last three months, insiders sold 118,402 shares of company stock valued at $29,975,254. 11.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its position in IAC/InterActiveCorp by 0.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 7,834 shares of the company’s stock valued at $1,704,000 after purchasing an additional 64 shares during the last quarter. US Bancorp DE raised its position in IAC/InterActiveCorp by 2.6% during the 2nd quarter. US Bancorp DE now owns 3,097 shares of the company’s stock valued at $674,000 after purchasing an additional 79 shares during the last quarter. Cooper Financial Group grew its holdings in shares of IAC/InterActiveCorp by 7.3% during the 2nd quarter. Cooper Financial Group now owns 1,223 shares of the company’s stock worth $266,000 after acquiring an additional 83 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of IAC/InterActiveCorp by 78.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after acquiring an additional 85 shares during the period. Finally, Machina Capital S.A.S. grew its holdings in shares of IAC/InterActiveCorp by 12.2% during the 2nd quarter. Machina Capital S.A.S. now owns 866 shares of the company’s stock worth $188,000 after acquiring an additional 94 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

About IAC/InterActiveCorp

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.

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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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