Truist Financial Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target decreased by Truist Financial from $88.00 to $80.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts also recently commented on IAC. UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. Citigroup lowered their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. TD Cowen dropped their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Barclays decreased their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Stock Performance

Shares of IAC opened at $46.95 on Wednesday. The business has a 50-day simple moving average of $51.97 and a two-hundred day simple moving average of $50.87. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -109.18 and a beta of 1.33. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced 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). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. IAC’s revenue was down 15.5% on a year-over-year basis. On average, analysts expect that IAC will post -0.82 EPS for the current year.

Institutional Investors Weigh In On IAC

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in 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 period. Barclays PLC lifted its stake in IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after acquiring an additional 54,797 shares during the period. MML Investors Services LLC grew its holdings in IAC by 20.5% during the 3rd quarter. MML Investors Services LLC now owns 5,725 shares of the company’s stock worth $308,000 after acquiring an additional 973 shares in the last quarter. State Street Corp raised its holdings in shares of IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after purchasing an additional 28,577 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of IAC by 28.9% in the 3rd quarter. Quantinno Capital Management LP now owns 20,397 shares of the company’s stock worth $1,098,000 after purchasing an additional 4,568 shares during the period. 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.