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

IAC Inc. (NASDAQ:IAC) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $76.40.

A number of research analysts recently issued reports on the company. JMP Securities began coverage on IAC in a research note on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price target on the stock. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. KeyCorp decreased their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Truist Financial lifted their price objective on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Barclays decreased their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th.

IAC Stock Performance

Shares of IAC stock opened at $53.82 on Tuesday. 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 has a 52 week low of $41.39 and a 52 week high of $58.29. The firm’s 50 day moving average is $51.46 and its two-hundred day moving average is $50.66. The firm has a market capitalization of $4.32 billion, a P/E ratio of -34.06 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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 company had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) EPS. Research analysts forecast that IAC will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAC. Riverview Trust Co purchased a new stake in shares of IAC during the 1st quarter worth $27,000. International Assets Investment Management LLC acquired a new position in IAC during the second quarter worth about $39,000. CWM LLC increased its holdings in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC during the 2nd quarter valued at approximately $60,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of IAC during the 1st quarter worth approximately $80,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.