Brokerages Set IAC Inc. (NASDAQ:IAC) Price Target at $77.89

Shares of IAC Inc. (NASDAQ:IAC) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $70.91.

IAC has been the topic of several recent research reports. Citigroup lowered their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial cut their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday. KeyCorp cut their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Barclays reduced their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday.

IAC Stock Down 0.1 %

Shares of IAC stock opened at $46.95 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. IAC has a twelve month low of $43.51 and a twelve month high of $58.29. The stock has a 50 day moving average of $52.03 and a 200 day moving average of $50.88. The stock has a market cap of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) earnings per share. As a group, sell-side analysts expect that IAC will post -0.82 EPS for the current year.

Institutional Trading of IAC

Several institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. acquired a new position in shares of IAC in the first quarter valued at approximately $575,000. Louisiana State Employees Retirement System acquired a new position in shares of IAC in the second quarter worth $1,649,000. Highbridge Capital Management LLC increased its position in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after acquiring an additional 68,291 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after acquiring an additional 79,951 shares in the last quarter. Finally, Swedbank AB purchased a new position in IAC in the first quarter valued at $11,460,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.