IAC (NASDAQ:IAC) Given New $87.00 Price Target at Truist Financial

IAC (NASDAQ:IAC) had its price objective lifted by investment analysts at Truist Financial from $80.00 to $87.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 57.95% from the stock’s current price.

Several other equities analysts have also issued reports on IAC. KeyCorp cut their price target on shares of IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Barclays boosted their target price on shares of IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group raised their price objective on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer boosted their price target on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup dropped their target price on IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.31.

IAC Trading Down 0.4 %

IAC stock traded down $0.24 during midday trading on Friday, reaching $55.08. The company’s stock had a trading volume of 320,171 shares, compared to its average volume of 794,431. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 22.20 and a beta of 1.34. The stock has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $50.58. IAC has a 1 year low of $41.39 and a 1 year high of $69.85.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations 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 predict that IAC will post -2.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in IAC by 130.3% during the third quarter. SG Americas Securities LLC now owns 5,542 shares of the company’s stock worth $279,000 after buying an additional 3,136 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of IAC by 82.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock worth $453,000 after acquiring an additional 4,051 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IAC by 16.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,416 shares of the company’s stock worth $726,000 after acquiring an additional 1,992 shares during the period. Strs Ohio acquired a new position in shares of IAC during the 3rd quarter valued at about $1,486,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of IAC by 5.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,889 shares of the company’s stock valued at $2,464,000 after acquiring an additional 2,413 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.