IAC (NASDAQ:IAC) Price Target Cut to $57.00 by Analysts at Truist Financial

Key Points

• Truist Financial has lowered its target price for IAC stock from $61.00 to $57.00, maintaining a "buy" rating, which indicates a potential upside of 65.79% from the last close.
• Shares of IAC have experienced a 13.0% decline, trading at $34.38, with a consensus rating of "Moderate Buy" and an average price target of $51.46 among analysts.
• In its latest earnings report, IAC posted $2.57 EPS, significantly beating the consensus estimate, but revenues fell 7.5% year-over-year.

IAC (NASDAQ:IAC - Get Free Report) had its target price decreased by equities research analysts at Truist Financial from $61.00 to $57.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 66.81% from the stock's current price.

IAC has been the subject of several other reports. Barclays lowered their target price on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities decreased their price target on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. Piper Sandler dropped their price target on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, KeyCorp reduced their price objective on shares of IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.92.

IAC Stock Down 2.3%

IAC stock traded down $0.82 during trading on Wednesday, reaching $34.17. 1,591,347 shares of the company's stock were exchanged, compared to its average volume of 1,298,132. The company's 50-day moving average is $38.20 and its two-hundred day moving average is $39.71. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -6.34 and a beta of 1.23. IAC has a 52-week low of $32.04 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.87.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $2.87. The business had revenue of $586.93 million for the quarter, compared to analysts' expectations of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The business's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.71) earnings per share. On average, analysts predict that IAC will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Several large investors have recently made changes to their positions in IAC. LPL Financial LLC raised its holdings in shares of IAC by 17.1% during the fourth quarter. LPL Financial LLC now owns 5,016 shares of the company's stock valued at $216,000 after buying an additional 733 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of IAC by 129.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,111 shares of the company's stock valued at $1,472,000 after buying an additional 19,216 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of IAC during the fourth quarter valued at approximately $439,000. Aster Capital Management DIFC Ltd raised its holdings in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after buying an additional 457 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of IAC during the fourth quarter valued at approximately $395,000. Institutional investors and hedge funds own 88.90% of the company's stock.

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.