JPMorgan Chase & Co. Raises IAC (NASDAQ:IAC) Price Target to $46.00

IAC (NASDAQ:IAC) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $43.00 to $46.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 19.14% from the stock’s previous close.

IAC has been the topic of several other reports. Barclays dropped their price target on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Truist Financial lowered their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. KeyCorp dropped their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Jefferies Financial Group raised their target price on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group decreased their price target on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

IAC Price Performance

Shares of NASDAQ:IAC opened at $38.61 on Friday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -14.14 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56. IAC has a 12 month low of $29.56 and a 12 month high of $50.49. The stock’s 50 day moving average price is $33.97 and its 200 day moving average price is $35.99.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the business posted ($2.93) earnings per share. Equities research analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of large investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in IAC by 2.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after purchasing an additional 300 shares during the period. Teacher Retirement System of Texas raised its stake in IAC by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC lifted its holdings in shares of IAC by 48.5% in the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. US Bancorp DE boosted its position in shares of IAC by 21.9% in the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock worth $103,000 after buying an additional 401 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of IAC by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock valued at $2,854,000 after buying an additional 410 shares in the last quarter. Institutional investors and hedge funds 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.