IAC (NASDAQ:IAC) Given "Market Outperform" Rating at JMP Securities

IAC (NASDAQ:IAC - Get Free Report)'s stock had its "market outperform" rating reiterated by JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $70.00 price objective on the stock. JMP Securities' target price would suggest a potential upside of 56.35% from the stock's current price.

IAC has been the subject of several other research reports. UBS Group raised shares of IAC to a "hold" rating in a report on Monday, October 28th. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. Truist Financial decreased their target price on IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. KeyCorp reduced their price target on shares of IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Finally, Piper Sandler lowered shares of IAC from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, IAC has a consensus rating of "Moderate Buy" and a consensus price target of $68.33.

IAC Price Performance

NASDAQ:IAC traded up $0.30 during mid-day trading on Monday, hitting $44.77. The company's stock had a trading volume of 850,488 shares, compared to its average volume of 663,143. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -104.12 and a beta of 1.31. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The stock has a fifty day moving average of $49.74 and a 200-day moving average of $50.01.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. As a group, equities analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAC. CWM LLC increased its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. SG Americas Securities LLC bought a new position in IAC during the second quarter worth about $312,000. 1620 Investment Advisors Inc. bought a new position in IAC during the second quarter worth about $60,000. Louisiana State Employees Retirement System bought a new stake in shares of IAC in the second quarter worth about $1,649,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company's stock worth $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

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.