IAC Inc. (NASDAQ:IAC) Receives $70.36 Consensus PT from Brokerages

Shares of IAC Inc. (NASDAQ:IAC) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $69.00.

IAC has been the subject of several research analyst reports. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $54.00 in a research note on Tuesday. Macquarie reiterated an “outperform” rating and set a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. TD Cowen dropped their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, KeyCorp cut their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the period. State Street Corp increased its position in shares of IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after acquiring an additional 28,577 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of IAC by 5.1% during 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. Geode Capital Management LLC boosted its holdings in shares of IAC by 2.2% during the third 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 period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after purchasing an additional 52,271 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Stock Down 3.3 %

Shares of NASDAQ IAC opened at $46.80 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.77 billion, a P/E ratio of -108.83 and a beta of 1.31. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The business has a 50-day simple moving average of $50.33 and a two-hundred day simple moving average of $50.14.

IAC (NASDAQ:IAC) last released 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 firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) earnings per share. Research analysts anticipate that IAC will post -3.97 earnings per share for the current fiscal year.

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.