JPMorgan Chase & Co. Cuts IAC (NASDAQ:IAC) Price Target to $45.00

IAC (NASDAQ:IAC) had its target price lowered by JPMorgan Chase & Co. from $60.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also weighed in on IAC. Citigroup raised their price objective on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. KeyCorp boosted their price objective on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. UBS Group lowered their target price on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Benchmark reduced their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, JMP Securities decreased their price objective 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.15.

IAC Stock Up 2.9 %

Shares of NASDAQ:IAC opened at $35.17 on Tuesday. The company’s fifty day moving average is $41.62 and its 200-day moving average is $44.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC has a 52 week low of $32.05 and a 52 week high of $58.29. The company has a market capitalization of $2.73 billion, a PE ratio of -5.39 and a beta of 1.24.

Hedge Funds Weigh In On IAC

Several hedge funds have recently added to or reduced their stakes in IAC. MML Investors Services LLC raised its position in shares of IAC by 20.5% in the 3rd quarter. MML Investors Services LLC now owns 5,725 shares of the company’s stock valued at $308,000 after acquiring an additional 973 shares during the period. Barclays PLC boosted its position in shares of IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after purchasing an additional 54,797 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of IAC by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after buying an additional 686 shares during the period. Fortis Advisors LLC increased its position in shares of IAC by 23.3% in the 4th quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock valued at $416,000 after buying an additional 1,825 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in IAC by 452.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock worth $4,438,000 after buying an additional 84,259 shares during the period. Institutional investors and hedge funds 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.