Citigroup Trims IAC (NASDAQ:IAC) Target Price to $70.00

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

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

IAC Price Performance

Shares of IAC stock traded up $0.25 during mid-day trading on Thursday, reaching $55.32. 1,038,850 shares of the stock traded hands, compared to its average volume of 799,836. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $51.47 and a 200 day moving average of $50.55. The stock has a market capitalization of $4.44 billion, a PE ratio of 22.38 and a beta of 1.34. IAC has a fifty-two week low of $41.39 and a fifty-two week high of $69.85.

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

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings 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 purchasing an additional 3,136 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in IAC by 82.0% in the third quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock valued at $453,000 after acquiring an additional 4,051 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in IAC by 17.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 152,518 shares of the company’s stock valued at $7,685,000 after acquiring an additional 22,321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of IAC by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,416 shares of the company’s stock worth $726,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of IAC in the 3rd quarter valued at about $1,486,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.