IAC (NASDAQ:IAC) Price Target Cut to $52.00 by Analysts at Truist Financial

IAC (NASDAQ:IAC) had its price target lowered by investment analysts at Truist Financial from $57.00 to $52.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 58.02% from the company’s current price.

Several other brokerages have also commented on IAC. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays set a $48.00 price target on shares of IAC in a research note on Wednesday. Piper Sandler dropped their price objective on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. UBS Group restated a “neutral” rating and issued a $39.00 price objective on shares of IAC in a research note on Wednesday. Finally, Benchmark dropped their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.54.

IAC Stock Up 2.8%

NASDAQ:IAC traded up $0.91 during midday trading on Wednesday, hitting $32.91. 344,011 shares of the company were exchanged, compared to its average volume of 1,136,382. The company has a fifty day simple moving average of $34.65 and a 200 day simple moving average of $36.28. IAC has a fifty-two week low of $29.56 and a fifty-two week high of $55.16. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.45 billion, a PE ratio of -12.05 and a beta of 1.25.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative return on equity of 4.50% and a negative net margin of 8.27%.The company had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. During the same quarter in the prior year, the business earned ($2.93) earnings per share. IAC’s revenue was down 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of IAC

Institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC boosted its holdings in IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after buying an additional 429 shares in the last quarter. GAMMA Investing LLC boosted its holdings in IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after buying an additional 520 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in IAC by 240.3% during the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after buying an additional 829 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in IAC during the second quarter worth about $51,000. Finally, North Capital Inc. purchased a new stake in IAC during the second quarter worth about $75,000. Hedge funds and other 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.