IAC Inc. (NASDAQ:IAC) Receives Average Recommendation of “Moderate Buy” from Brokerages

IAC Inc. (NASDAQ:IAC) has been given an average rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $64.67.

Several equities analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays reduced their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Oppenheimer reduced their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Finally, JMP Securities reduced their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th.

IAC Trading Down 0.5 %

Shares of IAC stock opened at $46.37 on Friday. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a 50 day simple moving average of $43.06 and a two-hundred day simple moving average of $48.09. The company has a market cap of $3.73 billion, a P/E ratio of -7.11 and a beta of 1.32.

Hedge Funds Weigh In On IAC

Institutional investors have recently added to or reduced their stakes in the stock. Corvex Management LP boosted its stake in 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 acquiring an additional 920,875 shares during the last quarter. Norges Bank purchased a new stake in IAC in the fourth quarter worth $38,817,000. Southeastern Asset Management Inc. TN raised 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 buying an additional 483,613 shares during the period. Joel Isaacson & Co. LLC lifted its position in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after buying an additional 359,327 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of IAC by 87.9% during the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company’s stock valued at $32,967,000 after buying an additional 357,442 shares during the last quarter. Institutional investors 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.