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

IAC (NASDAQ:IAC) had its price objective lowered by analysts at KeyCorp from $66.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 25.92% from the company’s previous close.

Other research analysts have also issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Macquarie reiterated an “outperform” rating and issued a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Truist Financial decreased their target price on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average target price of $70.36.

IAC Stock Up 0.9 %

IAC opened at $47.65 on Wednesday. The company has a market cap of $3.83 billion, a PE ratio of -110.81 and a beta of 1.33. The business has a 50 day moving average price of $51.87 and a two-hundred day moving average price of $50.81. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

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 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 firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, research analysts anticipate that IAC will post -3.97 EPS for the current year.

Institutional Trading of IAC

A number of institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of IAC by 2.4% in 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 valued at $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp raised its stake in IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after acquiring an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after acquiring an additional 79,951 shares in the last quarter. Whitebox Advisors LLC increased its stake in shares of IAC by 9.5% in the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after buying an additional 121,664 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after buying an additional 25,909 shares during the period. 88.90% of the stock is currently owned by institutional investors.

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.