Analysts Set IAC Inc. (NASDAQ:IAC) Target Price at $46.73

Shares of IAC Inc. (NASDAQ:IAC) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $46.7273.

IAC has been the topic of a number of analyst reports. Barclays decreased their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Piper Sandler reduced their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. UBS Group lowered their price objective on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Benchmark dropped their price objective on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Truist Financial reduced their target price on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IAC. AlphaQuest LLC increased its holdings in shares of IAC by 64.8% in the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company’s stock worth $146,000 after buying an additional 1,253 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of IAC by 12.7% during the 1st quarter. Royal Bank of Canada now owns 449,115 shares of the company’s stock worth $20,632,000 after acquiring an additional 50,463 shares during the last quarter. Maverick Capital Ltd. grew its position in IAC by 112.7% in the first quarter. Maverick Capital Ltd. now owns 18,874 shares of the company’s stock worth $867,000 after acquiring an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in IAC by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company’s stock worth $46,638,000 after acquiring an additional 47,944 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in IAC in the first quarter valued at $1,918,000. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Up 3.5%

Shares of NASDAQ IAC opened at $34.37 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The company has a market cap of $2.46 billion, a P/E ratio of -12.59 and a beta of 1.25. IAC has a 52 week low of $29.56 and a 52 week high of $50.49. The business has a 50-day simple moving average of $33.65 and a two-hundred day simple moving average of $36.07.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The company had revenue of $589.79 million for the quarter, compared to the consensus estimate of $601.86 million. During the same quarter in the prior year, the company earned ($2.93) earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Research analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

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.