IAC (NASDAQ:IAC) Price Target Lowered to $66.00 at Barclays

IAC (NASDAQ:IAC) had its price objective dropped by Barclays from $70.00 to $66.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 40.49% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Citigroup cut their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.91.

IAC Price Performance

IAC stock opened at $46.98 on Wednesday. The stock’s 50 day simple moving average is $52.13 and its 200 day simple moving average is $50.91. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period in the previous year, the company earned ($0.30) earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts expect that IAC will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently modified their holdings of the company. Edgestream Partners L.P. bought a new position in shares of IAC in the first quarter worth about $575,000. Louisiana State Employees Retirement System purchased a new stake in IAC during the 2nd quarter valued at approximately $1,649,000. Highbridge Capital Management LLC raised its position in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock valued at $7,746,000 after buying an additional 68,291 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after buying an additional 79,951 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of IAC in the first quarter worth $11,460,000. 88.90% of the stock is currently owned by institutional investors.

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.