Brokerages Set IAC Inc. (NASDAQ:IAC) PT at $76.40

Shares of IAC Inc. (NASDAQ:IAC) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $76.40.

A number of brokerages have issued reports on IAC. Truist Financial raised their target price on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JMP Securities assumed coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price target for the company. KeyCorp decreased their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Finally, Citigroup dropped their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Institutional Investors Weigh In On IAC

Several hedge funds have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of IAC in the 1st quarter valued at $27,000. International Assets Investment Management LLC acquired a new stake in shares of IAC in the second quarter worth about $39,000. GAMMA Investing LLC boosted its stake in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares in the last quarter. CWM LLC increased its holdings in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of IAC in the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $52.71 on Friday. The firm’s 50-day moving average price is $52.26 and its 200-day moving average price is $50.66. The company has a market cap of $4.23 billion, a P/E ratio of -33.36 and a beta of 1.32. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC has a 52-week low of $41.39 and a 52-week high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $942.77 million. During the same quarter in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that IAC will post -0.79 EPS for the current fiscal year.

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.