IAC (NASDAQ:IAC) Price Target Cut to $56.00 by Analysts at Citigroup

IAC (NASDAQ:IAC) had its price target lowered by research analysts at Citigroup from $60.00 to $56.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 31.42% from the stock’s current price.

Other research analysts also recently issued research reports about the company. TD Cowen lowered their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of IAC in a report on Monday, December 16th. Barclays lowered their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

IAC Stock Down 1.2 %

IAC stock opened at $42.61 on Friday. IAC has a fifty-two week low of $41.08 and a fifty-two week high of $58.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The business’s fifty day moving average price is $47.15 and its two-hundred day moving average price is $49.42. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -99.09 and a beta of 1.31.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, equities analysts anticipate that IAC will post -3.97 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in IAC during the 2nd quarter valued at $39,000. Quarry LP raised its stake in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after acquiring an additional 785 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of IAC by 98.8% during 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 period. Clear Harbor Asset Management LLC bought a new stake in shares of IAC in the third quarter worth about $208,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of IAC in the third quarter worth about $209,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.