IAC Inc. (NASDAQ:IAC) Receives $77.89 Average Price Target from Analysts

Shares of IAC Inc. (NASDAQ:IAC) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $70.91.

A number of equities research analysts recently weighed in on the stock. KeyCorp decreased their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a report on Tuesday. Macquarie restated an “outperform” rating and set a $14.00 price objective on shares of IAC in a report on Thursday. TD Cowen lowered their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup cut their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

IAC Trading Down 0.1 %

Shares of IAC opened at $46.95 on Wednesday. The stock has a market capitalization of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. The company’s fifty day moving average is $52.03 and its 200 day moving average is $50.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. IAC has a fifty-two week low of $43.51 and a fifty-two week high of $58.29.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. Sell-side analysts expect that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of IAC by 5,474.2% during the second 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 during the period. DME Capital Management LP acquired a new stake in IAC during the 2nd quarter worth about $13,655,000. Bank of New York Mellon Corp increased its holdings in shares of IAC by 113.4% in the second 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 period. Swedbank AB purchased a new position in shares of IAC in the first quarter worth about $11,460,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of IAC in the second quarter worth about $7,200,000. 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.