IAC (NASDAQ:IAC – Get Free Report)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They currently have a $84.00 target price on the stock. Truist Financial’s price objective would suggest a potential upside of 58.34% from the company’s previous close.
A number of other research firms have also weighed in on IAC. UBS Group cut their price objective on shares of IAC from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, August 28th. KeyCorp lowered their price objective on IAC from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Citigroup decreased their price target on IAC from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. StockNews.com initiated coverage on shares of IAC in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Jefferies Financial Group boosted their target price on shares of IAC from $70.00 to $80.00 in a report on Thursday, May 18th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.93.
IAC Price Performance
IAC (NASDAQ:IAC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.76). IAC had a net margin of 5.56% and a negative return on equity of 4.67%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, equities research analysts predict that IAC will post -3.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its position in shares of IAC by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 33,596 shares of the company’s stock valued at $1,734,000 after purchasing an additional 240 shares in the last quarter. Captrust Financial Advisors boosted its stake in IAC by 3.1% during the 1st quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock valued at $808,000 after acquiring an additional 246 shares during the last quarter. Quent Capital LLC boosted its stake in IAC by 53.8% during the 1st quarter. Quent Capital LLC now owns 732 shares of the company’s stock valued at $38,000 after acquiring an additional 256 shares during the last quarter. ETF Managers Group LLC grew its holdings in IAC by 3.8% during the 4th quarter. ETF Managers Group LLC now owns 7,090 shares of the company’s stock worth $315,000 after acquiring an additional 258 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of IAC by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 7,718 shares of the company’s stock worth $398,000 after purchasing an additional 277 shares during the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.
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.
- Five stocks we like better than IAC
- Investing in Agriculture 101: How to Invest in Agriculture
- WeWork Stock Soars: Meme Stock Madness or Mirage?
- Technology Stocks Explained: Here’s What to Know About Tech
- Shutterstock is the Value Stock they don’t want you to know about
- The How and Why of Investing in Large-Cap Stocks
- 3 Low-Cost ETFs That Are Crushing SPY
Receive News & Ratings for IAC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAC and related companies with MarketBeat.com's FREE daily email newsletter.