IAC (NASDAQ:IAC) Price Target Cut to $66.00 by Analysts at KeyCorp

IAC (NASDAQ:IAC) had its price target decreased by KeyCorp from $67.00 to $66.00 in a report released on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the stock. Truist Financial boosted their price target on shares of IAC from $87.00 to $88.00 and gave the stock a buy rating in a research note on Thursday, August 8th. JMP Securities initiated coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an outperform rating and a $78.00 target price for the company. Benchmark restated a buy rating and set a $110.00 target price on shares of IAC in a research report on Thursday, August 8th. Barclays cut their price target on IAC from $73.00 to $70.00 and set an overweight rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on IAC from $65.00 to $75.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, IAC has an average rating of Moderate Buy and an average target price of $76.40.

IAC Price Performance

Shares of IAC opened at $51.85 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70. IAC has a fifty-two week low of $41.39 and a fifty-two week high of $58.29. The firm has a 50-day simple moving average of $48.78 and a 200-day simple moving average of $50.99. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -32.82 and a beta of 1.32.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The company had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, equities research analysts anticipate that IAC will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of IAC in the fourth quarter worth about $39,426,000. Segantii Capital Management Ltd acquired a new position in IAC during the 4th quarter worth approximately $2,881,000. International Assets Investment Management LLC purchased a new position in IAC in the 4th quarter worth approximately $2,579,000. Teachers Retirement System of The State of Kentucky grew its position in IAC by 12.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock valued at $11,483,000 after acquiring an additional 24,589 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of IAC during the first quarter valued at approximately $575,000. Hedge funds and other institutional investors 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.