IAC (NASDAQ:IAC) Price Target Cut to $64.00

IAC (NASDAQ:IAC) had its price objective cut by equities researchers at KeyCorp from $72.00 to $64.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 16.22% from the company’s previous close.

IAC has been the subject of a number of other research reports. Barclays increased their price target on IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. UBS Group boosted their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price target on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $78.23.

IAC Price Performance

Shares of NASDAQ IAC traded up $1.41 during midday trading on Friday, reaching $55.07. The company’s stock had a trading volume of 14,590,709 shares, compared to its average volume of 742,432. IAC has a one year low of $41.39 and a one year high of $69.85. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 22.21 and a beta of 1.34. The company has a 50 day moving average price of $51.47 and a 200 day moving average price of $50.34. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, equities research analysts expect that IAC will post -2.02 EPS for the current year.

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently modified their holdings of IAC. Parkside Investments LLC raised its position in IAC by 13.8% during the fourth quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock valued at $9,233,000 after acquiring an additional 21,400 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of IAC by 66.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after purchasing an additional 413,440 shares during the last quarter. International Assets Investment Management LLC bought a new stake in IAC in the fourth quarter worth $2,579,000. Citigroup Inc. increased its position in IAC by 9.4% during the third quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock worth $770,000 after buying an additional 1,315 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in IAC by 70.9% during the third quarter. Envestnet Asset Management Inc. now owns 160,154 shares of the company’s stock valued at $8,070,000 after buying an additional 66,427 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.