IAC Inc. (NASDAQ:IAC) Receives $60.31 Average Target Price from Analysts

IAC Inc. (NASDAQ:IAC) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $57.43.

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Cowen reissued a “buy” rating on shares of IAC in a research note on Monday. Benchmark cut their price target on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Oppenheimer cut their target price on IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th.

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAC. Vanguard Group Inc. grew its position in IAC by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company’s stock valued at $341,097,000 after acquiring an additional 43,772 shares in the last quarter. Southeastern Asset Management Inc. TN boosted its stake in shares of IAC by 21.3% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock valued at $118,719,000 after purchasing an additional 483,613 shares during the period. Corvex Management LP grew its holdings in shares of IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock valued at $103,983,000 after purchasing an additional 920,875 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in IAC by 5.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company’s stock worth $72,029,000 after buying an additional 84,121 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company’s stock worth $68,306,000 after buying an additional 130,604 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

NASDAQ:IAC opened at $37.02 on Wednesday. The stock has a 50 day moving average of $39.33 and a two-hundred day moving average of $43.46. IAC has a 12 month low of $32.05 and a 12 month high of $58.29. The firm has a market cap of $2.87 billion, a P/E ratio of -5.68 and a beta of 1.24. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, topping the consensus estimate of ($3.94) by $1.14. The firm had revenue of $570.49 million during the quarter, compared to analysts’ expectations of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, analysts expect 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.