JPMorgan Chase & Co. Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC - Get Free Report) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $60.00 to $45.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 34.71% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp upped their price objective on shares of IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Barclays reduced their price target on shares of IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Citigroup raised their price objective on shares of IAC from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Benchmark cut 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. Finally, JMP Securities lowered their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.15.

IAC Stock Performance

IAC traded up $0.51 during trading hours on Tuesday, hitting $33.41. The company's stock had a trading volume of 168,731 shares, compared to its average volume of 831,530. The company has a 50-day simple moving average of $42.41 and a 200 day simple moving average of $45.04. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.12 and a beta of 1.24. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

Hedge Funds Weigh In On IAC

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd raised its holdings in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the period. Parallel Advisors LLC boosted its position in shares of IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after buying an additional 583 shares during the period. Fifth Third Bancorp grew its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after buying an additional 507 shares in the last quarter. Versant Capital Management Inc raised its position in IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after buying an additional 369 shares during the period. Finally, GAMMA Investing LLC lifted its stake in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Hedge funds and other 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.

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