IAC (NASDAQ:IAC) Given New $41.00 Price Target at KeyCorp

IAC (NASDAQ:IAC) had its target price lowered by investment analysts at KeyCorp from $45.00 to $41.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 27.25% from the stock’s previous close.

IAC has been the subject of several other reports. Piper Sandler decreased their target price on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial decreased their price objective 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. UBS Group upped their price objective on shares of IAC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.62.

IAC Stock Performance

Shares of NASDAQ IAC opened at $32.22 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC has a 12 month low of $31.30 and a 12 month high of $55.16. The company has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $36.29. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -5.98 and a beta of 1.23.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The business had revenue of $586.93 million during the quarter, compared to analysts’ expectations of $601.38 million. During the same period in the previous year, the business posted ($1.71) EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, analysts predict that IAC will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in shares of IAC by 2.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock valued at $518,000 after acquiring an additional 300 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of IAC by 0.6% during the second quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after acquiring an additional 316 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of IAC by 1.0% during the first quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company’s stock valued at $1,520,000 after acquiring an additional 324 shares during the last quarter. GAMMA Investing LLC increased its position in shares of IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after acquiring an additional 367 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of IAC by 21.9% during the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after acquiring an additional 401 shares during the last quarter. 88.90% of the stock is 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.