IAC Inc. (NASDAQ:IAC) Receives $68.33 Consensus Target Price from Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $67.50.

IAC has been the subject of a number of research analyst reports. Citigroup dropped their price target on shares of IAC from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. TD Cowen dropped their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $70.00 price target on shares of IAC in a research note on Monday, December 16th. Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Finally, Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th.

IAC Stock Down 2.7 %

Shares of IAC stock opened at $41.69 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC has a 1-year low of $41.08 and a 1-year high of $58.29. The business has a 50-day moving average of $46.48 and a 200-day moving average of $49.33. The company has a market capitalization of $3.36 billion, a PE ratio of -96.95 and a beta of 1.32.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter last year, the business earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the last quarter. Principal Financial Group Inc. grew its holdings in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after buying an additional 337,268 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in IAC in the 2nd quarter valued at approximately $39,000. Commonwealth Equity Services LLC raised its stake in IAC by 25.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,212 shares of the company’s stock valued at $666,000 after acquiring an additional 2,845 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in IAC by 4.2% during the 2nd quarter. Natixis Advisors LLC now owns 81,901 shares of the company’s stock worth $3,837,000 after acquiring an additional 3,264 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.