IAC (NASDAQ:IAC) Given New $66.00 Price Target at Barclays

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

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

IAC Stock Down 0.1 %

Shares of NASDAQ:IAC opened at $46.95 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. The company has a market cap of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. IAC has a 52 week low of $43.51 and a 52 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.

IAC (NASDAQ:IAC) last released its 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 return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the company earned ($0.30) EPS. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. As a group, research analysts expect that IAC will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in IAC in the 1st quarter worth $575,000. Louisiana State Employees Retirement System acquired a new stake in IAC in the 2nd quarter worth $1,649,000. Highbridge Capital Management LLC grew its position in IAC by 70.4% in the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after purchasing an additional 68,291 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares during the last quarter. Finally, Swedbank AB acquired a new stake in IAC in the 1st quarter worth $11,460,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.