KeyCorp Cuts IAC (NASDAQ:IAC) Price Target to $49.00

IAC (NASDAQ:IAC) had its target price lowered by KeyCorp from $64.00 to $49.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

IAC has been the subject of several other research reports. UBS Group cut their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Citigroup lowered their price objective on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays cut their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer lowered their price target on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

IAC Stock Performance

IAC stock 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 has a market capitalization of $2.74 billion, a PE ratio of -5.42 and a beta of 1.24. The firm’s 50 day simple moving average is $39.65 and its 200 day simple moving average is $43.68.

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

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its holdings in shares of IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after purchasing an additional 54,797 shares during the last quarter. Franklin Resources Inc. grew its holdings in IAC by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock worth $577,000 after acquiring an additional 686 shares during the last quarter. Fortis Advisors LLC increased its position in shares of IAC by 23.3% in the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock valued at $416,000 after acquiring an additional 1,825 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of IAC by 452.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock valued at $4,438,000 after acquiring an additional 84,259 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in shares of IAC during the fourth quarter worth about $7,794,000. Institutional investors 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.