IAC (NASDAQ:IAC) Price Target Cut to $64.00 by Analysts at KeyCorp

IAC (NASDAQ:IAC) had its price target decreased by KeyCorp from $72.00 to $64.00 in a report published on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other analysts have also commented on IAC. Truist Financial boosted their price target on IAC from $77.00 to $80.00 and gave the company a buy rating in a research note on Thursday, February 15th. UBS Group boosted their target price on shares of IAC from $60.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Barclays increased their target price on shares of IAC from $62.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $78.23.

IAC Price Performance

Shares of NASDAQ:IAC opened at $55.75 on Friday. The business has a 50 day moving average price of $51.47 and a 200 day moving average price of $50.48. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 22.48 and a beta of 1.34. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC has a twelve month low of $41.39 and a twelve month high of $69.85.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. Research analysts predict that IAC will post -2.02 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds have recently added to or reduced their stakes in IAC. Riverview Trust Co acquired a new position in shares of IAC in the 1st quarter valued at $27,000. Geneos Wealth Management Inc. acquired a new position in IAC in the first quarter valued at about $80,000. Spire Wealth Management boosted its holdings in IAC by 23.1% during the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after buying an additional 303 shares during the last quarter. Covestor Ltd grew its position in shares of IAC by 15.4% during the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after buying an additional 286 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock valued at $136,000 after acquiring an additional 768 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Company Profile

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.