IAC (NASDAQ:IAC) PT Raised to $73.00

IAC (NASDAQ:IAC) had its target price hoisted by research analysts at Barclays from $72.00 to $73.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 31.84% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. KeyCorp reduced their target price on shares of IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. UBS Group boosted their target price on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price target on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.31.

IAC Price Performance

Shares of IAC stock traded up $0.30 on Thursday, reaching $55.37. 354,969 shares of the company were exchanged, compared to its average volume of 791,865. IAC has a 1 year low of $41.39 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The business has a 50-day moving average price of $51.47 and a 200 day moving average price of $50.55. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 22.69 and a beta of 1.34.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts forecast that IAC will post -2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IAC. Riverview Trust Co acquired a new stake in shares of IAC in the first quarter valued at $27,000. Geneos Wealth Management Inc. acquired a new position in IAC in the 1st quarter valued at about $80,000. Spire Wealth Management increased its stake in IAC by 23.1% during the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after purchasing an additional 303 shares during the period. Covestor Ltd lifted its position in shares of IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of IAC by 39.7% in the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock valued at $136,000 after purchasing an additional 768 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.