JMP Securities Lowers IAC (NASDAQ:IAC) Price Target to $64.00

IAC (NASDAQ:IAC) had its price target lowered by analysts at JMP Securities from $70.00 to $64.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 36.21% from the company’s current price.

Other equities analysts have also issued research reports about the company. KeyCorp dropped their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. UBS Group dropped their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. TD Cowen dropped their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

IAC Stock Performance

NASDAQ:IAC opened at $46.99 on Thursday. The firm has a market capitalization of $3.78 billion, a PE ratio of -109.26 and a beta of 1.32. The business’s fifty day moving average price is $43.10 and its 200 day moving average price is $48.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC has a 12 month low of $39.61 and a 12 month high of $58.29.

Institutional Investors Weigh In On IAC

A number of hedge funds have recently added to or reduced their stakes in IAC. Sanctuary Advisors LLC lifted its position in shares of IAC by 581.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after acquiring an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after acquiring an additional 52,271 shares during the period. Royce & Associates LP lifted its position in shares of IAC by 5.1% during the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after acquiring an additional 13,400 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of IAC by 15.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after acquiring an additional 44,000 shares during the period. Finally, Barclays PLC lifted its position in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after acquiring an additional 54,797 shares during the period. Institutional investors and hedge funds own 88.90% 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.