IAC (NASDAQ:IAC) Given New $60.00 Price Target at KeyCorp

IAC (NASDAQ:IAC) had its price objective lowered by stock analysts at KeyCorp from $66.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 25.92% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group raised IAC to a “hold” rating in a research note on Monday, October 28th. Citigroup reduced their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Truist Financial reduced their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.36.

IAC Trading Up 0.9 %

Shares of IAC stock opened at $47.65 on Wednesday. The stock has a fifty day moving average price of $51.87 and a 200-day moving average price of $50.81. IAC has a 1 year low of $43.51 and a 1 year high of $58.29. The firm has a market cap of $3.83 billion, a PE ratio of -110.81 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 2.75.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) EPS. Equities research analysts anticipate that IAC will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new position in shares of IAC in the 1st quarter valued at $575,000. Louisiana State Employees Retirement System acquired a new stake in shares of IAC in the 2nd quarter worth $1,649,000. Highbridge Capital Management LLC boosted its position in shares of IAC by 70.4% in the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after purchasing an additional 68,291 shares in the last quarter. Royce & Associates LP boosted its position in shares of IAC by 5.1% in the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock worth $14,999,000 after purchasing an additional 13,400 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares in the last quarter. 88.90% of the stock is currently 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.