Truist Financial Lowers IAC (NASDAQ:IAC) Price Target to $80.00

IAC (NASDAQ:IAC) had its price objective lowered by equities research analysts at Truist Financial from $88.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 70.29% from the stock’s previous close.

IAC has been the subject of a number of other research reports. UBS Group raised IAC to a “hold” rating in a research note on Monday, October 28th. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday. Barclays decreased their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, KeyCorp reduced their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Trading Down 0.1 %

Shares of NASDAQ:IAC opened at $46.98 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. The business has a 50 day moving average of $52.13 and a 200-day moving average of $50.91. IAC has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) earnings per share. On average, equities analysts predict that IAC will post -0.82 earnings per share for the current year.

Institutional Trading of IAC

A number of hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in shares of IAC in the first quarter worth approximately $575,000. Louisiana State Employees Retirement System bought a new stake in shares of IAC in the 2nd quarter valued at $1,649,000. Highbridge Capital Management LLC increased its position in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after buying an additional 68,291 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after buying an additional 79,951 shares during the last quarter. Finally, Swedbank AB bought a new position in IAC during the first quarter worth $11,460,000. 88.90% of the stock is owned by institutional investors and hedge funds.

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.