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

IAC Inc. (NASDAQ:IAC) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $67.50.

A number of brokerages recently weighed in on IAC. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Barclays dropped their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $70.00 target price on shares of IAC in a research note on Monday, December 16th. Finally, KeyCorp cut their price target on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in IAC by 5,474.2% during the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after acquiring an additional 337,268 shares during the period. DME Capital Management LP bought a new position in IAC in the second quarter worth $13,655,000. Bank of New York Mellon Corp boosted its stake in IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after buying an additional 282,304 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in IAC in the 2nd quarter valued at $7,200,000. Finally, Marshall Wace LLP bought a new stake in IAC in the 2nd quarter valued at $5,644,000. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of NASDAQ IAC opened at $43.27 on Thursday. The company’s 50-day moving average price is $46.99 and its 200 day moving average price is $49.39. The stock has a market cap of $3.48 billion, a price-to-earnings 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 current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

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.