IAC (NASDAQ:IAC) Receives “Overweight” Rating from JPMorgan Chase & Co.

IAC (NASDAQ:IAC)‘s stock had its “overweight” rating reissued by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They presently have a $60.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 23.99% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. KeyCorp boosted their target price on shares of IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JMP Securities decreased their target price on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Oppenheimer decreased their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial decreased their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.31.

IAC Stock Performance

NASDAQ:IAC opened at $48.39 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -7.42 and a beta of 1.29. The company’s 50-day moving average is $44.25 and its two-hundred day moving average is $47.33. IAC has a 1-year low of $39.61 and a 1-year high of $58.29.

Institutional Investors Weigh In On IAC

A number of hedge funds have recently added to or reduced their stakes in IAC. Asset Value Investors Ltd acquired a new stake in IAC during the 4th quarter worth approximately $39,872,000. Corvex Management LP lifted its holdings in IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock worth $103,983,000 after buying an additional 920,875 shares in the last quarter. Norges Bank acquired a new stake in IAC during the 4th quarter worth approximately $38,817,000. Southeastern Asset Management Inc. TN lifted its holdings in IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock worth $118,719,000 after buying an additional 483,613 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its holdings in IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after buying an additional 359,327 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.