IAC (NASDAQ:IAC) Price Target Lowered to $61.00 at Barclays

IAC (NASDAQ:IAC) had its price target reduced by Barclays from $66.00 to $61.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. JMP Securities reiterated a “market outperform” rating and set a $70.00 price target on shares of IAC in a report on Monday, December 16th. TD Cowen decreased their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. KeyCorp dropped their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup lifted their price objective on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

IAC Trading Up 10.6 %

NASDAQ:IAC opened at $47.97 on Thursday. The stock has a fifty day simple moving average of $43.10 and a 200 day simple moving average of $48.21. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -111.56 and a beta of 1.32. IAC has a 1-year low of $39.61 and a 1-year high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, November 12th. 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 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 analyst estimates of $922.62 million. During the same period last year, the company posted ($0.30) earnings per share. The company’s revenue was down 15.5% compared to the same quarter last year. Sell-side analysts forecast that IAC will post -3.97 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of IAC by 20.4% during the third quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock worth $432,000 after acquiring an additional 1,358 shares during the last quarter. GAMMA Investing LLC increased its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the period. Creative Planning increased its position in IAC by 55.7% during the 3rd quarter. Creative Planning now owns 14,380 shares of the company’s stock valued at $774,000 after purchasing an additional 5,145 shares during the period. Raymond James & Associates raised its holdings in IAC by 7.7% during the 3rd 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. acquired a new position in shares of IAC in the 3rd quarter worth approximately $560,000. 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.