IAC (NASDAQ:IAC) Price Target Lowered to $70.00 at Citigroup

IAC (NASDAQ:IAC) had its price target lowered by investment analysts at Citigroup from $72.00 to $70.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 26.54% from the company’s current price.

Several other equities research analysts have also issued reports on IAC. Barclays lifted their price target on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp lowered their target price on IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Truist Financial increased their price target on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. UBS Group boosted their price target on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Oppenheimer increased their price objective on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

IAC Stock Up 0.5 %

IAC stock traded up $0.25 during trading hours on Thursday, reaching $55.32. 1,038,850 shares of the stock were exchanged, compared to its average volume of 799,836. The firm’s 50-day moving average is $51.47 and its 200-day moving average is $50.55. IAC has a 12 month low of $41.39 and a 12 month high of $69.85. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 22.38 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, equities research analysts expect that IAC will post -2.02 earnings per share for the current year.

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently made changes to their positions in IAC. Garden State Investment Advisory Services LLC raised its stake in shares of IAC by 1.3% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock valued at $786,000 after acquiring an additional 196 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in IAC by 0.6% during the 4th quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company’s stock worth $2,325,000 after buying an additional 271 shares during the period. Covestor Ltd grew its position in shares of IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after buying an additional 286 shares during the last quarter. Spire Wealth Management increased its stake in shares of IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of IAC by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock worth $1,721,000 after acquiring an additional 320 shares during the last quarter. 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.