IAC Inc. (NASDAQ:IAC) Receives $76.40 Average PT from Analysts

IAC Inc. (NASDAQ:IAC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $76.40.

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A number of research analysts have weighed in on IAC shares. JMP Securities initiated coverage on IAC in a report on Tuesday, July 9th. They issued an "outperform" rating and a $78.00 price objective on the stock. KeyCorp dropped their price target on shares of IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, August 16th. Truist Financial increased their price objective on shares of IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Barclays cut their target price on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup dropped their price objective on IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, August 8th.

Check Out Our Latest Analysis on IAC

Institutional Investors Weigh In On IAC

Several hedge funds and other institutional investors have recently made changes to their positions in IAC. Tandem Capital Management Corp ADV raised its stake in IAC by 0.6% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company's stock worth $2,192,000 after acquiring an additional 260 shares in the last quarter. Greenwich Wealth Management LLC lifted its holdings in shares of IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company's stock valued at $451,000 after purchasing an additional 284 shares during the last quarter. CWM LLC boosted its position in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after purchasing an additional 408 shares during the period. GAMMA Investing LLC grew its stake in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after buying an additional 492 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in IAC during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 88.90% of the company's stock.

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IAC Price Performance

NASDAQ:IAC traded up $0.54 during trading hours on Friday, reaching $53.85. 401,396 shares of the company were exchanged, compared to its average volume of 659,519. The stock's 50-day moving average is $52.20 and its 200-day moving average is $50.69. IAC has a twelve month low of $41.39 and a twelve month high of $58.29. The firm has a market cap of $4.32 billion, a PE ratio of -34.08 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The company had revenue of $949.50 million during the quarter, compared to analysts' expectations of $942.77 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The company's quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts anticipate that IAC will post -0.79 earnings per share for the current fiscal year.

About IAC

(Get Free Report

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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