Truist Financial Cuts IAC (NASDAQ:IAC) Price Target to $80.00

IAC (NASDAQ:IAC) had its target price cut by Truist Financial from $88.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on IAC. TD Cowen reduced their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays decreased their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, KeyCorp dropped their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.60.

IAC Stock Down 2.4 %

NASDAQ IAC opened at $47.01 on Wednesday. IAC has a 1 year low of $43.51 and a 1 year high of $58.29. The stock has a market capitalization of $3.78 billion, a PE ratio of -109.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.68. The business’s 50-day moving average is $52.22 and its 200 day moving average is $50.93.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. Sell-side analysts forecast that IAC will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after buying an additional 52,271 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of IAC during the third quarter valued at approximately $3,049,000. Pathstone Holdings LLC raised its holdings in shares of IAC by 8.2% during the third quarter. Pathstone Holdings LLC now owns 24,119 shares of the company’s stock valued at $1,298,000 after purchasing an additional 1,819 shares during the last quarter. Quest Partners LLC lifted its position in IAC by 2,546.5% during the third quarter. Quest Partners LLC now owns 21,701 shares of the company’s stock valued at $1,168,000 after purchasing an additional 20,881 shares during the period. Finally, S&CO Inc. boosted its holdings in IAC by 4.0% in the third quarter. S&CO Inc. now owns 203,145 shares of the company’s stock worth $10,933,000 after purchasing an additional 7,885 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

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.