IAC (NASDAQ:IAC) Price Target Lowered to $77.00 at TD Cowen

IAC (NASDAQ:IAC) had its price objective lowered by investment analysts at TD Cowen from $82.00 to $77.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 62.21% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. KeyCorp lowered their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Barclays dropped their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday. Truist Financial boosted their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup reduced their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $76.60.

IAC Price Performance

Shares of IAC stock traded down $0.71 during midday trading on Wednesday, hitting $47.47. 285,583 shares of the company traded hands, compared to its average volume of 661,439. The firm’s fifty day moving average price is $52.22 and its 200-day moving average price is $50.93. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -110.86 and a beta of 1.33. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, sell-side analysts forecast that IAC will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC grew its position in IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares during the period. Whitebox Advisors LLC boosted its stake in shares of IAC by 9.5% during the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after acquiring an additional 121,664 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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. Bank of New York Mellon Corp increased its stake in shares of IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in IAC by 25.0% in the 3rd quarter. WCM Investment Management LLC now owns 379,556 shares of the company’s stock worth $20,762,000 after purchasing an additional 75,918 shares during the period. Hedge funds and other 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.