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

IAC (NASDAQ:IAC) had its target price upped by investment analysts at Truist Financial from $80.00 to $87.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 57.95% from the company’s previous close.

IAC has been the subject of a number of other reports. UBS Group upped their price objective on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Citigroup lowered their price objective on IAC from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp cut 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. Oppenheimer lifted their price target on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Barclays increased their price objective on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.31.

IAC Trading Down 0.4 %

IAC traded down $0.24 during trading on Friday, hitting $55.08. The company’s stock had a trading volume of 320,171 shares, compared to its average volume of 794,431. IAC has a twelve month low of $41.39 and a twelve month high of $69.85. The stock has a market cap of $4.42 billion, a PE ratio of 22.20 and a beta of 1.34. The firm’s 50 day moving average price is $51.45 and its 200-day moving average price is $50.58. 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 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 company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, analysts expect that IAC will post -2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IAC. SG Americas Securities LLC boosted its holdings in shares of IAC by 130.3% during the 3rd 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 during the period. Commonwealth Equity Services LLC boosted its holdings in shares of IAC by 82.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock worth $453,000 after buying an additional 4,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 1,992 shares during the period. Strs Ohio bought a new stake in shares of IAC during the 3rd quarter worth $1,486,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $2,464,000 after buying an additional 2,413 shares during the period. Institutional investors and hedge funds 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.