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

IAC (NASDAQ:IAC) had its target price lowered by KeyCorp from $72.00 to $64.00 in a report published on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on IAC. Barclays raised their target price on shares of IAC from $62.00 to $72.00 and gave the company an overweight rating in a report on Thursday, February 15th. Truist Financial raised their price objective on shares of IAC from $77.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, UBS Group upped their target price on IAC from $60.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $78.23.

IAC Stock Performance

IAC stock traded up $1.41 during trading hours on Friday, reaching $55.07. 14,590,709 shares of the stock were exchanged, compared to its average volume of 742,432. The stock has a market cap of $4.42 billion, a P/E ratio of 22.21 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The firm’s 50 day moving average is $51.50 and its 200 day moving average is $50.29. IAC has a 52-week low of $41.39 and a 52-week high of $69.85.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Analysts predict that IAC will post -2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new position in shares of IAC during the 1st quarter valued at about $80,000. GSA Capital Partners LLP increased its position in IAC by 258.6% during the first quarter. GSA Capital Partners LLP now owns 51,434 shares of the company’s stock worth $2,743,000 after purchasing an additional 37,089 shares during the last quarter. FORA Capital LLC purchased a new position in IAC during the first quarter worth approximately $478,000. Capstone Investment Advisors LLC boosted its holdings in shares of IAC by 209.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 12,354 shares of the company’s stock valued at $659,000 after purchasing an additional 8,365 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of IAC by 14.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,367 shares of the company’s stock valued at $606,000 after purchasing an additional 1,461 shares during the last quarter. 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.