Piper Sandler Downgrades IAC (NASDAQ:IAC) to Neutral

IAC (NASDAQ:IAC - Get Free Report) was downgraded by Piper Sandler from an "overweight" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $54.00 price objective on the stock, down from their prior price objective of $68.00. Piper Sandler's price target indicates a potential upside of 15.38% from the stock's current price.

Other analysts also recently issued research reports about the stock. UBS Group raised shares of IAC to a "hold" rating in a report on Monday, October 28th. Benchmark reaffirmed a "buy" rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Barclays decreased their target price on shares of IAC from $70.00 to $66.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Truist Financial cut their price objective on IAC from $88.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Finally, Macquarie reissued an "outperform" rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

IAC Stock Down 3.3 %

Shares of IAC traded down $1.61 on Tuesday, hitting $46.80. 761,450 shares of the stock traded hands, compared to its average volume of 660,721. IAC has a one year low of $43.51 and a one year high of $58.29. The company has a market capitalization of $3.77 billion, a PE ratio of -112.58 and a beta of 1.31. The business has a 50 day simple moving average of $50.33 and a 200 day simple moving average of $50.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

IAC (NASDAQ:IAC - Get Free Report) last posted 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). The business had revenue of $938.70 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) EPS. As a group, equities analysts forecast that IAC will post -3.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank lifted its position in shares of IAC by 52.7% in the first quarter. Comerica Bank now owns 10,929 shares of the company's stock valued at $583,000 after acquiring an additional 3,772 shares in the last quarter. CWM LLC boosted its stake in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after purchasing an additional 408 shares during the period. SG Americas Securities LLC purchased a new stake in IAC during the 2nd quarter valued at approximately $312,000. 1620 Investment Advisors Inc. bought a new stake in shares of IAC during the second quarter valued at approximately $60,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of IAC in the second quarter worth $1,649,000. 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.