IAC (NASDAQ:IAC) Price Target Cut to $80.00 by Analysts at Truist Financial

IAC (NASDAQ:IAC) had its price target trimmed by Truist Financial from $88.00 to $80.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Barclays reduced their price target on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday. KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Citigroup reduced their target price on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen decreased their price target 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 presently has an average rating of “Moderate Buy” and an average price target of $70.91.

IAC Price Performance

Shares of IAC stock opened at $46.95 on Wednesday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.18 and a beta of 1.33. IAC has a 12-month low of $43.51 and a 12-month high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $51.97 and a 200-day moving average of $50.87.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company 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 business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. On average, equities research analysts forecast that IAC will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On IAC

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