IAC (NASDAQ:IAC) Given New $47.00 Price Target at JMP Securities

IAC (NASDAQ:IAC) had its target price reduced by JMP Securities from $64.00 to $47.00 in a research report released on Tuesday,Benzinga reports. They currently have a market outperform rating on the stock.

IAC has been the subject of a number of other reports. Citigroup reduced their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating for the company in a report on Friday, April 25th. The Goldman Sachs Group reduced their target price on shares of IAC from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Oppenheimer reduced their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. KeyCorp dropped their price target on IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Barclays dropped their price target on IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.08.

IAC Stock Performance

Shares of IAC stock opened at $36.55 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of -5.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The company has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $41.31. IAC has a one year low of $32.05 and a one year high of $55.40.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Research analysts expect that IAC will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently bought and sold shares of IAC. Aster Capital Management DIFC Ltd boosted its position in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. TD Private Client Wealth LLC boosted its position in IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Parallel Advisors LLC boosted its position in IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock worth $29,000 after purchasing an additional 583 shares in the last quarter. Fifth Third Bancorp boosted its position in IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock worth $29,000 after purchasing an additional 507 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds 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.