IAC (NASDAQ:IAC) Price Target Raised to $88.00

IAC (NASDAQ:IAC) had its target price raised by Truist Financial from $87.00 to $88.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

IAC has been the topic of a number of other reports. Wells Fargo & Company upped their price target on IAC from $82.00 to $84.00 and gave the company an overweight rating in a research report on Tuesday, May 14th. Citigroup lowered their target price on shares of IAC from $72.00 to $70.00 and set a buy rating on the stock in a report on Thursday, May 9th. JMP Securities began coverage on shares of IAC in a report on Tuesday, July 9th. They set an outperform rating and a $78.00 price target for the company. KeyCorp upped their price objective on shares of IAC from $64.00 to $67.00 and gave the stock an overweight rating in a research note on Monday, May 13th. Finally, Barclays lifted their target price on shares of IAC from $72.00 to $73.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $79.75.

IAC Price Performance

Shares of IAC stock traded down $0.06 during trading on Thursday, hitting $49.59. 583,492 shares of the company’s stock traded hands, compared to its average volume of 730,518. The company has a market cap of $3.98 billion, a PE ratio of -31.39 and a beta of 1.32. The firm’s fifty day moving average price is $48.63 and its 200 day moving average price is $51.00. IAC has a twelve month low of $41.39 and a twelve month high of $58.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The business had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. During the same quarter in the prior year, the business earned ($0.76) EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts forecast 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 company. Norges Bank bought a new stake in shares of IAC during the fourth quarter worth approximately $39,426,000. Segantii Capital Management Ltd bought a new stake in shares of IAC during the 4th quarter valued at $2,881,000. International Assets Investment Management LLC acquired a new position in shares of IAC in the 4th quarter valued at $2,579,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of IAC by 12.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock worth $11,483,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of IAC during the first quarter worth $575,000. 88.90% of the stock is currently owned by institutional investors.

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.