Brokerages Set IAC Inc. (NASDAQ:IAC) Target Price at $68.33

Shares of IAC Inc. (NASDAQ:IAC) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $67.50.

IAC has been the topic of several research reports. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Truist Financial cut their price target on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research note on Monday, December 16th. TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Barclays lowered their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th.

IAC Stock Up 1.5 %

Shares of NASDAQ:IAC opened at $43.27 on Thursday. The company has a market capitalization of $3.48 billion, a PE ratio of -100.63 and a beta of 1.32. IAC has a 52 week low of $41.08 and a 52 week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company’s fifty day moving average is $46.99 and its 200-day moving average is $49.39.

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

Institutional Investors Weigh In On IAC

A number of hedge funds and other institutional investors have recently bought and sold shares of IAC. International Assets Investment Management LLC acquired a new stake in shares of IAC in the second quarter valued at about $39,000. GAMMA Investing LLC grew its stake in IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the last quarter. Quarry LP increased its position in IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of IAC during the 2nd quarter worth approximately $208,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in IAC during the third quarter worth approximately $208,000. 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.