KeyCorp Trims IAC (NASDAQ:IAC) Target Price to $64.00

IAC (NASDAQ:IAC) had its price target decreased by KeyCorp from $72.00 to $64.00 in a research report sent to investors on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Barclays boosted their target price on IAC from $62.00 to $72.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Truist Financial boosted their target price on IAC from $77.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, UBS Group boosted their price objective on IAC from $60.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, IAC presently has an average rating of Moderate Buy and an average target price of $78.23.

IAC Trading Up 1.2 %

IAC stock traded up $0.68 during midday trading on Friday, reaching $55.75. 2,060,375 shares of the stock traded hands, compared to its average volume of 776,199. The company has a 50-day simple moving average of $51.47 and a two-hundred day simple moving average of $50.40. IAC has a 12-month low of $41.39 and a 12-month high of $69.85. The firm has a market cap of $4.48 billion, a PE ratio of 22.21 and a beta of 1.34. 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 (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (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 analyst estimates of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Research analysts expect that IAC will post -2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of IAC in the first quarter valued at approximately $27,000. Geneos Wealth Management Inc. acquired a new position in IAC during the first quarter worth $80,000. Spire Wealth Management grew its holdings in IAC by 23.1% during the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after acquiring an additional 303 shares during the period. Covestor Ltd grew its holdings in IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after acquiring an additional 286 shares during the period. Finally, Headlands Technologies LLC grew its holdings in IAC by 39.7% during the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after acquiring an additional 768 shares during the period. 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.