IAC (NASDAQ:IAC) Stock Rating Reaffirmed by Truist Financial

Truist Financial reissued their buy rating on shares of IAC (NASDAQ:IAC) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $84.00 target price on the stock.

Several other equities research analysts have also issued reports on the company. Benchmark lowered their price objective on IAC from $120.00 to $115.00 and set a buy rating for the company in a research note on Thursday, August 10th. KeyCorp dropped their price objective on shares of IAC from $82.00 to $81.00 and set an overweight rating for the company in a research note on Wednesday, August 23rd. The Goldman Sachs Group increased their target price on shares of IAC from $71.00 to $74.00 in a research note on Monday, July 17th. Jefferies Financial Group lifted their price target on shares of IAC from $70.00 to $80.00 in a research note on Thursday, May 18th. Finally, Oppenheimer reduced their price objective on shares of IAC from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $80.93.

IAC Price Performance

IAC stock opened at $52.86 on Wednesday. IAC has a 52-week low of $41.52 and a 52-week high of $69.85. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $60.30 and its 200 day moving average is $56.87. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 19.29 and a beta of 1.23.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.76). IAC had a net margin of 5.56% and a negative return on equity of 4.67%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts forecast that IAC will post -3.14 EPS for the current fiscal year.

Institutional Trading of IAC

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in IAC by 20.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,339 shares of the company’s stock worth $535,000 after acquiring an additional 897 shares during the period. American Century Companies Inc. increased its holdings in IAC by 15.7% during the first quarter. American Century Companies Inc. now owns 4,292 shares of the company’s stock valued at $430,000 after buying an additional 582 shares during the period. Bank of Montreal Can increased its holdings in IAC by 161.5% during the first quarter. Bank of Montreal Can now owns 12,479 shares of the company’s stock valued at $1,304,000 after buying an additional 7,707 shares during the period. MetLife Investment Management LLC bought a new position in IAC in the first quarter worth approximately $153,000. Finally, Panagora Asset Management Inc. lifted its holdings in IAC by 98.7% during the first quarter. Panagora Asset Management Inc. now owns 14,912 shares of the company’s stock worth $1,495,000 after buying an additional 7,406 shares during the period. Institutional investors own 85.60% 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.