Truist Financial Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price objective reduced by investment analysts at Truist Financial from $88.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 70.29% from the stock’s current price.

Several other equities analysts have also issued reports on IAC. Barclays lowered their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup reduced their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. KeyCorp lowered their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Finally, TD Cowen reduced their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Stock Performance

IAC stock opened at $46.98 on Wednesday. IAC has a 1-year low of $43.51 and a 1-year high of $58.29. The firm’s fifty day simple moving average is $52.13 and its 200-day simple 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 earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during 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 business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. On average, equities research analysts expect that IAC will post -0.82 EPS for the current fiscal year.

Institutional Trading of IAC

A number of institutional investors have recently made changes to their positions in IAC. Tandem Capital Management Corp ADV lifted its position in IAC by 0.6% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after buying an additional 260 shares in the last quarter. Greenwich Wealth Management LLC raised its holdings in IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after acquiring an additional 284 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares during the last quarter. CWM LLC grew its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

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.