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

IAC (NASDAQ:IAC) had its price target reduced by analysts at Barclays from $66.00 to $61.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 40.59% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. KeyCorp reduced their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Piper Sandler cut IAC from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $70.00 price target on shares of IAC in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

IAC Stock Up 5.8 %

NASDAQ:IAC opened at $43.39 on Thursday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $43.10 and a 200-day moving average of $48.21. The firm has a market capitalization of $3.49 billion, a PE ratio of -100.90 and a beta of 1.32. IAC has a 52 week low of $39.61 and a 52 week high of $58.29.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in IAC by 6.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 16,733 shares of the company’s stock worth $722,000 after purchasing an additional 1,000 shares during the period. Bryce Point Capital LLC purchased a new stake in shares of IAC in the fourth quarter valued at $595,000. Headlands Technologies LLC acquired a new stake in shares of IAC in the fourth quarter worth $175,000. Wellington Management Group LLP purchased a new position in shares of IAC during the fourth quarter valued at $439,000. Finally, CIBC Private Wealth Group LLC raised its position in IAC by 171.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 108,895 shares of the company’s stock valued at $4,540,000 after buying an additional 68,816 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.