Truist Financial Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its target price cut by Truist Financial from $80.00 to $76.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 61.75% from the stock’s current price.

Several other research analysts also recently issued reports on IAC. Citigroup upped their price target on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and set a $70.00 price target on shares of IAC in a research report on Monday, December 16th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. TD Cowen cut their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Macquarie restated an “outperform” rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Down 2.1 %

Shares of NASDAQ IAC opened at $46.99 on Thursday. The firm’s 50-day simple moving average is $43.10 and its 200 day simple moving average is $48.21. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 12-month low of $39.61 and a 12-month high of $58.29.

Institutional Trading of IAC

A number of large investors have recently bought and sold shares of IAC. Norges Bank bought a new stake in IAC during the 4th quarter worth approximately $38,817,000. Joel Isaacson & Co. LLC increased its stake in IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after purchasing an additional 359,327 shares in the last quarter. Highbridge Capital Management LLC increased its stake in IAC by 223.5% during the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company’s stock worth $15,172,000 after purchasing an additional 242,982 shares in the last quarter. Proficio Capital Partners LLC increased its stake in IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock worth $9,897,000 after purchasing an additional 224,131 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IAC during the 4th quarter worth approximately $8,015,000. 88.90% of the stock is owned by 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.