TD Cowen Lowers IAC (NASDAQ:IAC) Price Target to $77.00

IAC (NASDAQ:IAC) had its price target reduced by stock analysts at TD Cowen from $82.00 to $77.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 62.21% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Citigroup cut their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial upped their price target on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Barclays decreased their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $76.60.

IAC Price Performance

Shares of IAC stock traded down $0.71 on Wednesday, hitting $47.47. 285,583 shares of the company traded hands, compared to its average volume of 661,439. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. The business has a 50-day simple moving average of $52.22 and a 200 day simple moving average of $50.93. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The stock has a market capitalization of $3.81 billion, a P/E ratio of -110.86 and a beta of 1.33.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 11th. 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 during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. Research analysts expect that IAC will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in IAC in the second quarter worth approximately $39,000. GAMMA Investing LLC grew its position in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares in the last quarter. CWM LLC increased its stake 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 period. 1620 Investment Advisors Inc. bought a new stake in shares of IAC in the second quarter valued at about $60,000. Finally, Innealta Capital LLC purchased a new stake in IAC in the second quarter worth about $146,000. Hedge funds and other 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.