Brokerages Set IAC Inc. (NASDAQ:IAC) Price Target at $67.50

IAC Inc. (NASDAQ:IAC) has been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $67.67.

A number of equities analysts recently commented on the company. TD Cowen cut their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Macquarie restated an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $70.00 target price on shares of IAC in a research note on Monday, December 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. Quarry LP raised its position in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares during the period. GAMMA Investing LLC grew its stake 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 acquiring an additional 492 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $89,000 after acquiring an additional 1,916 shares during the last quarter. KBC Group NV lifted its holdings in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after purchasing an additional 608 shares during the last quarter. Finally, Allworth Financial LP grew its stake in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after buying an additional 3,079 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Price Performance

Shares of NASDAQ:IAC opened at $42.33 on Monday. The firm has a 50 day simple moving average of $44.12 and a 200 day simple moving average of $48.79. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -98.44 and a beta of 1.32. IAC has a one year low of $39.61 and a one year high of $58.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS. Research analysts predict that IAC will post -3.97 earnings per share for the current fiscal year.

About IAC

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.