KeyCorp Cuts IAC (NASDAQ:IAC) Price Target to $41.00

IAC (NASDAQ:IAC) had its target price cut by KeyCorp from $45.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. UBS Group upped their target price on shares of IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Piper Sandler reduced their target price on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Oppenheimer cut their price target on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IAC has an average rating of “Moderate Buy” and a consensus target price of $46.54.

IAC Trading Up 3.2%

IAC stock opened at $33.01 on Monday. IAC has a 52 week low of $29.56 and a 52 week high of $55.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.56. The firm has a market capitalization of $2.36 billion, a PE ratio of -12.09 and a beta of 1.25. The business’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $36.26.

IAC (NASDAQ:IAC) last released its earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the business earned ($2.93) EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts forecast that IAC will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Hedge funds have recently modified their holdings of the stock. Helikon Investments Ltd acquired a new stake in IAC in the 2nd quarter valued at $76,056,000. Burgundy Asset Management Ltd. bought a new position in shares of IAC during the first quarter valued at $66,556,000. JPMorgan Chase & Co. boosted its stake in shares of IAC by 20.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after purchasing an additional 1,117,313 shares in the last quarter. Norges Bank bought a new stake in shares of IAC in the 2nd quarter worth about $31,025,000. Finally, AQR Capital Management LLC increased its position in shares of IAC by 422.9% during the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock worth $40,025,000 after purchasing an additional 708,332 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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.