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

IAC (NASDAQ:IAC) had its price objective lowered by Barclays from $61.00 to $52.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

IAC has been the subject of a number of other reports. Benchmark decreased their price objective on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. KeyCorp decreased their price target on IAC from $64.00 to $49.00 and set an “overweight” rating for the company in a report on Monday. UBS Group dropped their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Oppenheimer reduced their target price 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. Finally, Citigroup dropped their price target on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.31.

IAC Price Performance

Shares of NASDAQ:IAC opened at $34.06 on Tuesday. The stock’s 50 day moving average is $39.87 and its 200-day moving average is $43.74. IAC has a twelve month low of $32.05 and a twelve month high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -5.22 and a beta of 1.24.

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

Institutional Trading of IAC

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in IAC by 12.5% in the 1st quarter. Cetera Investment Advisers now owns 8,312 shares of the company’s stock worth $382,000 after acquiring an additional 921 shares during the last quarter. ACR Alpine Capital Research LLC raised its stake in IAC by 86.9% in the first quarter. ACR Alpine Capital Research LLC now owns 163,727 shares of the company’s stock valued at $7,522,000 after purchasing an additional 76,117 shares in the last quarter. Readystate Asset Management LP bought a new stake in IAC during the first quarter valued at approximately $248,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of IAC in the 1st quarter worth $248,000. Finally, Tabor Asset Management LP purchased a new stake in shares of IAC during the 1st quarter valued at $5,914,000. Hedge funds and other 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.