IAC (NASDAQ:IAC) Given New $49.00 Price Target at KeyCorp

IAC (NASDAQ:IAC) had its price objective cut by KeyCorp from $64.00 to $49.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on IAC. Citigroup decreased their price objective on IAC from $47.55 to $45.00 and set a “buy” rating for the company in a report on Friday, April 25th. Benchmark decreased their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Oppenheimer lowered their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial cut their price target on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

IAC Trading Up 3.6 %

Shares of IAC opened at $35.32 on Monday. IAC has a 1-year low of $32.05 and a 1-year high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $39.65 and its 200-day moving average price is $43.68. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.42 and a beta of 1.24.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The business had revenue of $570.49 million for the quarter, compared to analysts’ expectations of $809.18 million. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue was down 8.6% on a year-over-year basis. Sell-side analysts anticipate that IAC will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IAC. Aster Capital Management DIFC Ltd grew its position in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after acquiring an additional 429 shares during the period. Parallel Advisors LLC increased its position in IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock valued at $29,000 after acquiring an additional 583 shares during the last quarter. Fifth Third Bancorp lifted its holdings in IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock valued at $29,000 after acquiring an additional 507 shares during the period. Finally, Versant Capital Management Inc boosted its position in IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after purchasing an additional 369 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other 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.