IAC Inc. (NASDAQ:IAC) Receives $47.92 Average Price Target from Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.9231.

IAC has been the topic of several research reports. Piper Sandler reduced their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research report on Wednesday. Truist Financial reduced their price target on shares of IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. UBS Group boosted their price target on shares of IAC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Oppenheimer dropped their price objective on shares of IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th.

Hedge Funds Weigh In On IAC

A number of large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its holdings in shares of IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp boosted its position in IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock worth $29,000 after purchasing an additional 507 shares in the last quarter. Parallel Advisors LLC boosted its position in IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock worth $29,000 after purchasing an additional 583 shares in the last quarter. Versant Capital Management Inc boosted its position in IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after purchasing an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after purchasing an additional 520 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Trading Down 3.8%

IAC stock opened at $32.15 on Friday. The stock has a market cap of $2.39 billion, a P/E ratio of -5.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. IAC has a 1 year low of $32.04 and a 1 year high of $55.16. The firm’s 50 day moving average price is $35.47 and its 200-day moving average price is $36.82.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $2.87. The firm had revenue of $586.93 million for the quarter, compared to analysts’ expectations of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.71) earnings per share. On average, equities analysts predict that IAC will post 0.43 earnings per share for the current fiscal year.

About IAC

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.