IAC (NASDAQ:IAC) PT Lowered to $66.00 at Citigroup

IAC (NASDAQ:IAC) had its target price decreased by Citigroup from $70.00 to $66.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also commented on the company. KeyCorp raised their price objective on IAC from $64.00 to $67.00 and gave the company an overweight rating in a research report on Monday, May 13th. StockNews.com cut shares of IAC from a buy rating to a hold rating in a research report on Saturday, May 18th. JMP Securities started coverage on shares of IAC in a report on Tuesday, July 9th. They issued an outperform rating and a $78.00 price objective on the stock. Benchmark reiterated a buy rating and set a $110.00 target price on shares of IAC in a report on Thursday. Finally, Wells Fargo & Company upped their price target on IAC from $82.00 to $84.00 and gave the stock an overweight rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, IAC currently has an average rating of Moderate Buy and a consensus price target of $79.75.

IAC Trading Down 0.1 %

Shares of NASDAQ IAC traded down $0.06 during midday trading on Thursday, hitting $49.59. 583,492 shares of the company traded hands, compared to its average volume of 730,518. IAC has a 12-month low of $41.39 and a 12-month high of $58.76. The firm has a market cap of $3.98 billion, a P/E ratio of -31.39 and a beta of 1.32. The stock has a 50-day moving average price of $48.63 and a 200 day moving average price of $51.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The firm had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The firm’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.76) EPS. As a group, analysts expect that IAC will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IAC. Riverview Trust Co purchased a new position in shares of IAC during the first quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in IAC in the 2nd quarter worth approximately $39,000. CWM LLC raised its stake in IAC by 55.6% during the 2nd 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. 1620 Investment Advisors Inc. bought a new position in shares of IAC during the 2nd quarter valued at $60,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of IAC in the 1st quarter worth $80,000. 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.