IAC (NASDAQ:IAC) Price Target Lowered to $55.00 at Oppenheimer

Key Points

• Oppenheimer has downgraded its price target for IAC from $60.00 to $55.00, although it maintains an "outperform" rating, indicating potential upside based on current prices.
• Multiple analysts have reduced their price targets for IAC, with KeyCorp lowering theirs to $49.00 and Barclays to $52.00, while the average consensus price target now stands at $52.92.
• IAC reported a quarterly earnings per share of $2.57, which exceeded expectations but indicated a revenue decline of 7.5% year-over-year.

IAC (NASDAQ:IAC - Free Report) had its target price trimmed by Oppenheimer from $60.00 to $55.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their price target on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. KeyCorp decreased their target price on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays decreased their target price on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Cowen restated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

IAC Stock Down 2.3%

IAC stock traded down $0.82 during trading on Wednesday, reaching $34.17. The stock had a trading volume of 1,591,347 shares, compared to its average volume of 1,298,132. IAC has a 52-week low of $32.04 and a 52-week high of $55.40. The business has a 50 day moving average price of $38.20 and a 200 day moving average price of $39.72. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.54 billion, a PE ratio of -6.34 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to analysts' expectations of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company's revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.71) EPS. On average, analysts predict that IAC will post 0.43 EPS for the current year.

Institutional Investors Weigh In On IAC

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its position in IAC by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company's stock worth $1,896,000 after acquiring an additional 316 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of IAC by 1.0% in the 1st quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company's stock valued at $1,520,000 after purchasing an additional 324 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company's stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after purchasing an additional 369 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company's stock valued at $103,000 after purchasing an additional 401 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.