IAC (NASDAQ:IAC) Price Target Lowered to $76.00 at Truist Financial

IAC (NASDAQ:IAC) had its price objective decreased by Truist Financial from $80.00 to $76.00 in a report released on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on IAC. UBS Group raised IAC to a “hold” rating in a research report on Monday, October 28th. TD Cowen lowered their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $70.00 price target on shares of IAC in a report on Monday, December 16th. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. Finally, Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.33.

IAC Trading Up 10.6 %

Shares of IAC stock opened at $47.97 on Thursday. IAC has a 12 month low of $39.61 and a 12 month high of $58.29. The company has a market cap of $3.86 billion, a PE ratio of -111.56 and a beta of 1.32. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $43.10 and its two-hundred day moving average is $48.21.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) earnings per share. Equities analysts predict that IAC will post -3.97 EPS for the current year.

Institutional Trading of IAC

Several institutional investors have recently made changes to their positions in IAC. Aster Capital Management DIFC Ltd lifted its stake in IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of IAC in the 4th quarter valued at approximately $41,000. Quarry LP raised its holdings in shares of IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.