IAC (NASDAQ:IAC) Cut to “Neutral” at Piper Sandler

Piper Sandler lowered shares of IAC (NASDAQ:IAC) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Piper Sandler currently has $54.00 price target on the stock, down from their prior price target of $68.00.

A number of other brokerages have also commented on IAC. TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Macquarie reiterated an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Truist Financial cut their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. KeyCorp dropped their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

IAC Stock Down 0.0 %

Shares of IAC opened at $46.24 on Tuesday. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The firm’s 50 day moving average is $50.12 and its 200-day moving average is $50.09. The stock has a market capitalization of $3.72 billion, a PE ratio of -107.53 and a beta of 1.31. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) EPS. Equities research analysts forecast that IAC will post -3.97 EPS for the current year.

Institutional Investors Weigh In On IAC

A number of hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of IAC by 6.7% in the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after purchasing an additional 686 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of IAC by 581.3% in the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after purchasing an additional 83,878 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of IAC by 15.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after purchasing an additional 44,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares in the last quarter. Institutional investors and hedge funds 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.