Barclays Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price objective decreased by Barclays from $70.00 to $66.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

IAC has been the subject of a number of other research reports. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Citigroup reduced their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial raised their price objective on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.60.

IAC Stock Performance

Shares of IAC stock traded up $0.68 during trading on Wednesday, reaching $47.69. 18,715 shares of the company’s stock were exchanged, compared to its average volume of 661,102. 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’s fifty day moving average price is $52.13 and its 200-day moving average price is $50.91. IAC has a twelve month low of $43.51 and a twelve month high of $58.29. The stock has a market capitalization of $3.83 billion, a PE ratio of -109.33 and a beta of 1.33.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share (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 business had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same period in the prior year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that IAC will post -0.79 EPS for the current year.

Institutional Trading of IAC

Institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after buying an additional 66,347 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares in the last quarter. Whitebox Advisors LLC grew its stake in shares of IAC by 9.5% in the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after buying an additional 121,664 shares during the period. Charles Schwab Investment Management Inc. raised its stake in IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after buying an additional 52,271 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares in the last quarter. 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.