JPMorgan Chase & Co. Lowers IAC (NASDAQ:IAC) Price Target to $45.00

IAC (NASDAQ:IAC) had its target price decreased by analysts at JPMorgan Chase & Co. from $60.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 31.69% from the company’s current price.

IAC has been the topic of a number of other reports. Oppenheimer cut their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. JMP Securities decreased their target price on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Citigroup raised their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. UBS Group reduced their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Barclays lowered their target price on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $63.15.

IAC Stock Up 1.8 %

IAC stock opened at $34.17 on Tuesday. The stock has a 50-day simple moving average of $41.86 and a 200-day simple moving average of $44.89. The company has a market capitalization of $2.65 billion, a P/E ratio of -5.24 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

Institutional Investors Weigh In On IAC

Several institutional investors have recently modified their holdings of IAC. MML Investors Services LLC boosted its position in IAC by 20.5% during the third quarter. MML Investors Services LLC now owns 5,725 shares of the company’s stock worth $308,000 after purchasing an additional 973 shares in the last quarter. Barclays PLC grew its stake in IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after acquiring an additional 54,797 shares during the last quarter. Franklin Resources Inc. increased its holdings in IAC by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after acquiring an additional 686 shares in the last quarter. Fortis Advisors LLC raised its position in IAC by 23.3% during the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock worth $416,000 after acquiring an additional 1,825 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of IAC by 452.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock valued at $4,438,000 after purchasing an additional 84,259 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.