IAC (NASDAQ:IAC) Price Target Cut to $66.00 by Analysts at Barclays

IAC (NASDAQ:IAC) had its target price lowered by Barclays from $70.00 to $66.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Finally, Truist Financial lifted their price objective on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average target price of $76.60.

IAC Stock Performance

Shares of IAC traded up $0.68 during trading hours on Wednesday, reaching $47.69. 18,715 shares of the company traded hands, compared to its average volume of 661,102. IAC has a 1-year low of $43.51 and a 1-year high of $58.29. The stock has a market cap of $3.83 billion, a P/E ratio of -109.33 and a beta of 1.33. The stock’s fifty day moving average is $52.13 and its 200 day moving average is $50.91. 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 announced its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. Equities research analysts anticipate that IAC will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of IAC in the 1st quarter valued at about $221,000. QRG Capital Management Inc. increased its holdings in IAC by 28.4% in the first quarter. QRG Capital Management Inc. now owns 25,166 shares of the company’s stock valued at $1,342,000 after purchasing an additional 5,571 shares during the last quarter. Russell Investments Group Ltd. increased its stake in IAC by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock valued at $5,595,000 after purchasing an additional 23,567 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in IAC by 6.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock worth $4,619,000 after buying an additional 5,172 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of IAC during the first quarter worth $575,000. 88.90% of the stock is currently 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.