IAC (NASDAQ:IAC) Price Target Lowered to $52.00 at Truist Financial

IAC (NASDAQ:IAC) had its target price reduced by Truist Financial from $57.00 to $52.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts also recently issued reports on IAC. Benchmark decreased their price target on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler decreased their price target on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Barclays decreased their price target on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday. Oppenheimer decreased their price target on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Finally, UBS Group decreased their price target on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $46.54.

IAC Trading Up 3.2%

NASDAQ:IAC opened at $33.01 on Wednesday. The firm has a market cap of $2.45 billion, a PE ratio of -12.09 and a beta of 1.25. The stock has a fifty day moving average price of $34.57 and a 200 day moving average price of $36.26. IAC has a 12-month low of $29.56 and a 12-month high of $55.16. The company has a current ratio of 2.56, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29.

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

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently made changes to their positions in IAC. TD Private Client Wealth LLC increased its position in shares of IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. GAMMA Investing LLC increased its position in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock valued at $35,000 after acquiring an additional 520 shares during the period. Farther Finance Advisors LLC increased its position in IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after acquiring an additional 829 shares during the period. Atticus Wealth Management LLC acquired a new position in IAC in the 2nd quarter valued at about $51,000. Finally, North Capital Inc. acquired a new position in IAC in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds 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.