TD Cowen Cuts IAC (NASDAQ:IAC) Price Target to $77.00

IAC (NASDAQ:IAC) had its price objective trimmed by TD Cowen from $82.00 to $77.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on IAC. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. KeyCorp cut their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Barclays reduced their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial increased their price objective on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Down 0.1 %

IAC stock opened at $46.95 on Wednesday. The stock has a market capitalization of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The firm has a 50-day moving average price of $51.97 and a 200-day moving average price of $50.87.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) EPS. As a group, equities research analysts anticipate that IAC will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in IAC in the 2nd quarter worth about $39,000. GAMMA Investing LLC lifted its position in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after acquiring an additional 492 shares in the last quarter. Quarry LP increased its stake in IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares during the period. CWM LLC increased its stake in shares of IAC by 55.6% during 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of IAC during the 2nd quarter worth about $60,000. Institutional investors and hedge funds 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.