IAC (NASDAQ:IAC) Price Target Lowered to $56.00 at Citigroup

IAC (NASDAQ:IAC - Free Report) had its target price reduced by Citigroup from $60.00 to $56.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial reduced their target price on IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. KeyCorp decreased their price objective on IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. JMP Securities reissued a "market outperform" rating and issued a $70.00 target price on shares of IAC in a research note on Monday, December 16th. UBS Group raised shares of IAC to a "hold" rating in a research note on Monday, October 28th. Finally, Barclays cut their price objective on shares of IAC from $70.00 to $66.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, IAC currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.

IAC Price Performance

Shares of IAC stock traded up $0.66 during mid-day trading on Friday, reaching $43.27. The stock had a trading volume of 499,481 shares, compared to its average volume of 624,091. The company has a market cap of $3.48 billion, a P/E ratio of -100.63 and a beta of 1.31. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 12-month low of $41.08 and a 12-month high of $58.29. The business has a 50-day simple moving average of $47.15 and a 200 day simple moving average of $49.42.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $922.62 million. During the same quarter last year, the business posted ($0.30) earnings per share. The business's revenue was down 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that IAC will post -3.97 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAC. International Assets Investment Management LLC purchased a new position in shares of IAC in the 2nd quarter valued at $39,000. GAMMA Investing LLC raised its position in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company's stock valued at $53,000 after purchasing an additional 492 shares during the period. Quarry LP lifted its stake in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after purchasing an additional 785 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of IAC in the second quarter worth about $208,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of IAC in the third quarter valued at about $208,000. 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.