IAC Inc. (NASDAQ:IAC) Receives $76.40 Average Price Target from Analysts

IAC Inc. (NASDAQ:IAC) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $76.40.

A number of equities research analysts recently issued reports on IAC shares. JMP Securities began coverage on IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price on the stock. Barclays reduced their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Truist Financial upped their target price on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, KeyCorp lowered their price target 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.

Institutional Investors Weigh In On IAC

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in IAC during the fourth quarter worth about $39,426,000. Teachers Retirement System of The State of Kentucky increased its position in IAC by 12.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock worth $11,483,000 after purchasing an additional 24,589 shares in the last quarter. Edgestream Partners L.P. purchased a new position in IAC in the first quarter valued at approximately $575,000. Patient Capital Management LLC lifted its position in IAC by 7.7% during the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock valued at $71,600,000 after buying an additional 97,938 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in IAC during the second quarter worth approximately $1,649,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Price Performance

IAC stock opened at $53.82 on Tuesday. The firm has a market capitalization of $4.32 billion, a PE ratio of -34.06 and a beta of 1.32. IAC has a 52 week low of $41.39 and a 52 week high of $58.29. The firm’s 50-day simple moving average is $51.46 and its 200 day simple moving average is $50.66. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The business had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the company earned ($0.76) EPS. On average, equities research analysts predict that IAC will post -0.79 EPS 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.