UBS Group Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target lowered by stock analysts at UBS Group from $55.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 17.47% from the stock’s current price.

Several other analysts also recently commented on the company. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. KeyCorp reduced their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays cut their target price on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday. Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $70.00 target price on shares of IAC in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.08.

IAC Stock Performance

IAC traded up $2.58 on Thursday, hitting $45.97. 193,980 shares of the company traded hands, compared to its average volume of 726,798. The company has a 50 day moving average of $43.10 and a 200-day moving average of $48.21. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.70 billion, a PE ratio of -106.90 and a beta of 1.32. IAC has a 12-month low of $39.61 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) earnings per share. Sell-side analysts anticipate that IAC will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds have recently bought and sold shares of IAC. SG Americas Securities LLC increased its stake in IAC by 20.4% in the 3rd quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock valued at $432,000 after purchasing an additional 1,358 shares in the last quarter. GAMMA Investing LLC grew its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the last quarter. Creative Planning grew its holdings in IAC by 55.7% during the 3rd quarter. Creative Planning now owns 14,380 shares of the company’s stock valued at $774,000 after buying an additional 5,145 shares during the last quarter. Raymond James & Associates grew its holdings in IAC by 7.7% during the 3rd quarter. Raymond James & Associates now owns 48,353 shares of the company’s stock valued at $2,602,000 after buying an additional 3,471 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in IAC during the 3rd quarter valued at $560,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.