Barclays Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price objective cut by Barclays from $66.00 to $61.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on IAC. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 target price on shares of IAC in a report on Monday, December 16th. Citigroup upped their target price on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Performance

Shares of IAC opened at $46.99 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a 50 day moving average price of $43.08 and a two-hundred day moving average price of $48.18. The firm has a market capitalization of $3.78 billion, a P/E ratio of -109.26 and a beta of 1.32. IAC has a 52 week low of $39.61 and a 52 week high of $58.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in shares of IAC by 20.4% in the third quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock worth $432,000 after purchasing an additional 1,358 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the last quarter. Creative Planning grew its stake in shares of IAC by 55.7% in the third quarter. Creative Planning now owns 14,380 shares of the company’s stock worth $774,000 after purchasing an additional 5,145 shares during the last quarter. Raymond James & Associates grew its stake in shares of IAC by 7.7% in the third quarter. Raymond James & Associates now owns 48,353 shares of the company’s stock worth $2,602,000 after purchasing an additional 3,471 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of IAC in the third quarter worth about $560,000. 88.90% of the stock is 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.