IAC (NASDAQ:IAC) Price Target Lowered to $52.00 at Barclays

IAC (NASDAQ:IAC) had its target price decreased by Barclays from $61.00 to $52.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on IAC. JPMorgan Chase & Co. reduced their price objective on IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. UBS Group reduced their price target on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Benchmark dropped their price objective on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. KeyCorp reduced their target price on shares of IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.31.

IAC Stock Down 3.7 %

Shares of IAC opened at $34.06 on Tuesday. The firm has a 50 day simple moving average of $39.87 and a two-hundred day simple moving average of $43.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC has a one year low of $32.05 and a one year high of $58.29. The company has a market cap of $2.64 billion, a P/E ratio of -5.22 and a beta of 1.24.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. Research analysts forecast that IAC will post 0.43 EPS for the current fiscal year.

Institutional Trading of IAC

A number of large investors have recently bought and sold shares of the business. Barclays PLC grew its stake in IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after purchasing an additional 54,797 shares during the period. Franklin Resources Inc. grew its position in shares of IAC by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock worth $577,000 after buying an additional 686 shares during the period. Fortis Advisors LLC increased its stake in shares of IAC by 23.3% in the 4th quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock valued at $416,000 after acquiring an additional 1,825 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of IAC by 452.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock valued at $4,438,000 after acquiring an additional 84,259 shares during the period. Finally, Empirical Asset Management LLC bought a new position in IAC during the fourth quarter worth $7,794,000. 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.