Barclays Raises IAC (NASDAQ:IAC) Price Target to $73.00

IAC (NASDAQ:IAC) had its price objective increased by investment analysts at Barclays from $72.00 to $73.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 31.84% from the stock’s current price.

A number of other brokerages have also commented on IAC. KeyCorp dropped their price target on IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. UBS Group boosted their price target 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. Finally, Truist Financial raised their price objective on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.31.

IAC Trading Up 0.5 %

Shares of IAC traded up $0.30 during mid-day trading on Thursday, reaching $55.37. The company’s stock had a trading volume of 354,969 shares, compared to its average volume of 791,865. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC has a 52 week low of $41.39 and a 52 week high of $69.85. The company’s fifty day moving average price is $51.47 and its two-hundred day moving average price is $50.55. The stock has a market cap of $4.45 billion, a PE ratio of 22.69 and a beta of 1.34.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, analysts predict that IAC will post -2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of IAC in the fourth quarter worth about $39,426,000. First Trust Advisors LP purchased a new position in shares of IAC in the fourth quarter valued at $27,053,000. Davis Selected Advisers increased its position in IAC by 16.9% in the third quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock worth $149,201,000 after purchasing an additional 428,065 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in IAC by 66.6% during the third quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after purchasing an additional 413,440 shares during the last quarter. Finally, Scopus Asset Management L.P. lifted its position in IAC by 100.0% during the third quarter. Scopus Asset Management L.P. now owns 550,000 shares of the company’s stock valued at $27,714,000 after purchasing an additional 275,000 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.