IAC (NASDAQ:IAC) Price Target Raised to $46.00

IAC (NASDAQ:IAC) had its price objective hoisted by JPMorgan Chase & Co. from $43.00 to $46.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages also recently commented on IAC. UBS Group lowered their target price on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Barclays lowered their price target on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Truist Financial cut their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. KeyCorp decreased their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Finally, Benchmark dropped their price target on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

IAC Stock Up 1.2%

IAC stock opened at $38.61 on Friday. The firm’s 50 day moving average price is $33.97 and its two-hundred day moving average price is $35.99. The firm has a market cap of $2.77 billion, a PE ratio of -14.14 and a beta of 1.18. IAC has a twelve month low of $29.56 and a twelve month high of $50.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The company had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the prior year, the firm earned ($2.93) earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. On average, research analysts predict that IAC will post 0.43 EPS for the current fiscal year.

Institutional Trading of IAC

Hedge funds have recently added to or reduced their stakes in the business. Helikon Investments Ltd acquired a new position in shares of IAC during the second quarter worth approximately $76,056,000. Burgundy Asset Management Ltd. bought a new position in IAC during the first quarter worth $66,556,000. JPMorgan Chase & Co. raised its stake in IAC by 20.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after purchasing an additional 1,117,313 shares during the last quarter. Norges Bank acquired a new position in IAC during the 2nd quarter valued at $31,025,000. Finally, AQR Capital Management LLC boosted its holdings in IAC by 422.9% in the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock valued at $40,025,000 after purchasing an additional 708,332 shares during the period. 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.