IAC (NASDAQ:IAC) Given New $80.00 Price Target at Truist Financial

IAC (NASDAQ:IAC) had its target price decreased by Truist Financial from $88.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. UBS Group raised IAC to a “hold” rating in a research report on Monday, October 28th. KeyCorp lowered their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Citigroup reduced their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Price Performance

NASDAQ IAC opened at $46.95 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.68. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.18 and a beta of 1.33. The company has a 50 day simple moving average of $51.97 and a 200-day simple moving average of $50.87. IAC has a 52-week low of $43.51 and a 52-week high of $58.29.

IAC (NASDAQ:IAC) last released its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the company earned ($0.30) EPS. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. Equities research analysts predict that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IAC. International Assets Investment Management LLC bought a new stake in IAC in the 2nd quarter valued at $39,000. Quarry LP increased its stake in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after acquiring an additional 785 shares during the period. GAMMA Investing LLC raised its position in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares in the last quarter. CWM LLC lifted its stake in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in IAC during the second quarter worth about $60,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.