IAC Inc. (NASDAQ:IAC) Receives $47.92 Consensus PT from Analysts

Shares of IAC Inc. (NASDAQ:IAC) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $47.9231.

Several research firms recently issued reports on IAC. Benchmark reduced their price target on shares of IAC from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Truist Financial decreased their target price on shares of IAC from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. KeyCorp cut their price target on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Finally, Oppenheimer lowered their price objective on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th.

Hedge Funds Weigh In On IAC

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in IAC during the first quarter worth about $1,107,000. Asset Management One Co. Ltd. bought a new stake in IAC in the 1st quarter worth about $163,000. Allspring Global Investments Holdings LLC purchased a new stake in IAC in the 1st quarter valued at about $2,590,000. Finally, DAVENPORT & Co LLC lifted its position in shares of IAC by 10.7% during the 1st quarter. DAVENPORT & Co LLC now owns 48,215 shares of the company’s stock worth $2,215,000 after buying an additional 4,670 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Performance

Shares of IAC opened at $32.22 on Wednesday. IAC has a one year low of $31.30 and a one year high of $55.16. The company has a market cap of $2.40 billion, a PE ratio of -5.98 and a beta of 1.23. The stock has a 50-day moving average of $34.79 and a 200-day moving average of $36.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. The business had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.71) earnings per share. On average, equities research analysts predict that IAC will post 0.43 EPS for the current fiscal year.

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.