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

IAC (NASDAQ:IAC) had its price target lowered by Citigroup from $60.00 to $56.00 in a research note released on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research analysts have also weighed in on IAC. Macquarie reissued an “outperform” rating and issued a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a report on Monday, December 16th. TD Cowen cut their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Finally, Truist Financial cut their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. 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, IAC has an average rating of “Moderate Buy” and an average target price of $67.50.

IAC Trading Up 1.5 %

IAC stock opened at $43.27 on Friday. The stock has a 50-day moving average of $46.99 and a two-hundred day moving average of $49.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC has a one year low of $41.08 and a one year high of $58.29. The stock has a market cap of $3.48 billion, a PE ratio of -100.63 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) earnings per share. On average, research analysts anticipate that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in IAC by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after purchasing an additional 66,347 shares during the period. State Street Corp grew its holdings in IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after purchasing an additional 28,577 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares during the period. Geode Capital Management LLC grew its holdings in IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after acquiring an additional 52,271 shares in the last quarter. 88.90% of the stock is 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.