IAC (NASDAQ:IAC) Given New $61.00 Price Target at Barclays

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

A number of other research firms have also recently issued reports on IAC. TD Cowen reduced their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research note on Monday, December 16th. Citigroup increased their target price on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. KeyCorp reduced their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Truist Financial lowered 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, IAC has an average rating of “Moderate Buy” and a consensus price target of $67.25.

IAC Trading Up 5.8 %

IAC stock opened at $43.39 on Thursday. IAC has a 12 month low of $39.61 and a 12 month high of $58.29. 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 stock has a market cap of $3.49 billion, a P/E ratio of -100.90 and a beta of 1.32. The company’s fifty day simple moving average is $43.10 and its 200-day simple moving average is $48.21.

IAC (NASDAQ:IAC) last issued its 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). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. As a group, sell-side analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

Several institutional investors have recently made changes to their positions in IAC. Commonwealth Equity Services LLC lifted its position in shares of IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock worth $497,000 after buying an additional 320 shares during the period. Nisa Investment Advisors LLC raised its stake in IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after acquiring an additional 405 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of IAC by 1.6% during the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after acquiring an additional 490 shares during the period. GAMMA Investing LLC boosted its stake in shares of IAC by 98.8% in 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 in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of IAC by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock worth $1,654,000 after purchasing an additional 531 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.