TD Cowen Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

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

Several other research analysts have also issued reports on IAC. Barclays dropped their target price on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday. KeyCorp decreased their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Citigroup dropped their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday. Finally, Truist Financial lifted their price target on shares of IAC from $87.00 to $88.00 and gave the stock 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, the company presently has an average 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 company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. The stock’s 50 day moving average is $51.97 and its 200-day moving average is $50.87. IAC has a twelve month low of $43.51 and a twelve month high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. Sell-side analysts expect that IAC will post -0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after acquiring an additional 66,347 shares during the last quarter. State Street Corp grew its position in IAC by 1.2% during the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after purchasing an additional 28,577 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after acquiring an additional 79,951 shares during the last quarter. Whitebox Advisors LLC grew its holdings in IAC by 9.5% in the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after purchasing an additional 121,664 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of IAC by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Hedge funds and other 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.