KeyCorp Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target trimmed by KeyCorp from $66.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

IAC has been the subject of several other reports. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Truist Financial lowered their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average target price of $70.36.

IAC Price Performance

Shares of IAC opened at $48.47 on Wednesday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -112.72 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $51.67 and its 200-day simple moving average is $50.68. IAC has a twelve month low of $43.51 and a twelve month high of $58.29.

IAC (NASDAQ:IAC) last released 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). The company had revenue of $938.70 million for 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%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. Equities analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after purchasing an additional 66,347 shares during the period. State Street Corp increased its position in IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after purchasing an additional 28,577 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after acquiring an additional 79,951 shares during the last quarter. Whitebox Advisors LLC increased its position in IAC by 9.5% during the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after buying an additional 121,664 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in IAC by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Institutional investors 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.