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

IAC (NASDAQ:IAC) had its price target cut by investment analysts at JPMorgan Chase & Co. from $60.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 34.71% from the company’s previous close.

Several other analysts also recently commented on the stock. UBS Group decreased their target price on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays cut their target price on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. KeyCorp upped their price target on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. JMP Securities cut their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Benchmark decreased their target price on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and a consensus target price of $63.15.

IAC Stock Up 1.5 %

Shares of IAC traded up $0.51 during midday trading on Tuesday, reaching $33.41. 168,731 shares of the stock were exchanged, compared to its average volume of 831,530. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -5.12 and a beta of 1.24. The firm has a 50 day simple moving average of $42.41 and a 200-day simple moving average of $45.04. IAC has a 12-month low of $32.05 and a 12-month high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

Institutional Trading of IAC

A number of hedge funds have recently modified their holdings of IAC. Applied Fundamental Research LLC lifted its position in IAC by 12.1% in the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock worth $17,955,000 after purchasing an additional 44,835 shares during the period. Bryce Point Capital LLC acquired a new stake in IAC during the fourth quarter valued at approximately $595,000. Barclays PLC grew its stake in shares of IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of IAC by 4,238.5% in the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock worth $9,897,000 after buying an additional 224,131 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of IAC by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after buying an additional 19,148 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.