Barclays Cuts IAC (NASDAQ:IAC) Price Target to $66.00

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

A number of other research analysts have also issued reports on IAC. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. KeyCorp reduced 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. 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. Citigroup reduced their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Price Performance

Shares of NASDAQ:IAC opened at $46.95 on Wednesday. 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 fifty-two week low of $43.51 and a fifty-two week high of $58.29. The firm has a 50-day simple moving average of $51.97 and a 200 day simple moving average of $50.87. The company has a market cap of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33.

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 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 prior year, the company earned ($0.30) EPS. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that IAC will post -0.82 EPS for the current year.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently made changes to their positions in IAC. International Assets Investment Management LLC bought a new stake in shares of IAC in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares in the last quarter. Quarry LP raised its holdings in shares of IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares in the last quarter. CWM LLC raised its holdings in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of IAC in the 2nd quarter valued at approximately $60,000. 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.