IAC (NASDAQ:IAC – Free Report) had its target price lifted by Truist Financial from $80.00 to $87.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Several other research firms have also recently commented on IAC. KeyCorp reduced their target price on IAC from $72.00 to $64.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Barclays lifted their price target on IAC from $72.00 to $73.00 and gave the company an overweight rating in a research report on Thursday, May 9th. UBS Group lifted their price target on IAC from $60.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Citigroup dropped their price target on IAC from $72.00 to $70.00 and set a buy rating for the company in a research report on Thursday, May 9th. Finally, Oppenheimer lifted their price objective on shares of IAC from $65.00 to $75.00 and gave the stock an outperform rating in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, IAC has a consensus rating of Moderate Buy and an average target price of $79.58.
Read Our Latest Stock Analysis on IAC
IAC Stock Up 2.3 %
IAC stock opened at $56.31 on Friday. The firm has a 50 day moving average of $51.38 and a 200-day moving average of $50.77. IAC has a 12 month low of $41.39 and a 12 month high of $69.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70.
IAC (NASDAQ:IAC – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. Equities analysts expect that IAC will post -3.05 EPS for the current fiscal year.
Hedge Funds Weigh In On IAC
A number of hedge funds have recently modified their holdings of IAC. Norges Bank purchased a new position in shares of IAC in the fourth quarter valued at about $39,426,000. First Trust Advisors LP purchased a new position in shares of IAC during the fourth quarter valued at about $27,053,000. Davis Selected Advisers increased its position in shares of IAC by 16.9% during the third quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock valued at $149,201,000 after buying an additional 428,065 shares during the period. TimesSquare Capital Management LLC increased its position in shares of IAC by 66.6% during the third quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after buying an additional 413,440 shares during the period. Finally, Scopus Asset Management L.P. grew its holdings in IAC by 100.0% in the third quarter. Scopus Asset Management L.P. now owns 550,000 shares of the company’s stock worth $27,714,000 after purchasing an additional 275,000 shares during the period. 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.
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Source: defenseworld.net
