JPMorgan Chase & Co. Reiterates “Overweight” Rating for IAC (NASDAQ:IAC)

JPMorgan Chase & Co. restated their overweight rating on shares of IAC (NASDAQ:IAC) in a research report report published on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $60.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. KeyCorp raised their target price on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Oppenheimer lowered their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup raised their target price on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Truist Financial lowered their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays lowered their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.31.

IAC Stock Performance

Shares of IAC opened at $48.39 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.75 billion, a PE ratio of -7.42 and a beta of 1.29. The company’s 50 day simple moving average is $44.25 and its 200-day simple moving average is $47.30. IAC has a 12-month low of $39.61 and a 12-month high of $58.29.

Institutional Investors Weigh In On IAC

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in shares of IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock worth $497,000 after buying an additional 320 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after buying an additional 457 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after buying an additional 490 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of IAC by 1.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock worth $1,654,000 after buying an additional 531 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after buying an additional 608 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.