Benchmark Reiterates “Buy” Rating for IAC (NASDAQ:IAC)

Benchmark reissued their buy rating on shares of IAC (NASDAQ:IAC) in a research note published on Tuesday morning,Benzinga reports. They currently have a $110.00 target price on the stock.

Other research analysts have also issued research reports about the company. Barclays dropped their target price on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. KeyCorp cut their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Truist Financial upped their target price 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. Citigroup dropped their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Performance

NASDAQ IAC opened at $46.95 on Tuesday. The company has a market cap of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33. The company has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $50.88. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. IAC has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. Sell-side analysts predict that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several hedge funds have recently made changes to their positions in the company. Tandem Capital Management Corp ADV lifted its stake in shares of IAC by 0.6% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock valued at $2,192,000 after buying an additional 260 shares in the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of IAC by 3.0% in the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after acquiring an additional 284 shares during the period. Nisa Investment Advisors LLC grew its position in shares of IAC by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares in the last quarter. CWM LLC raised its stake in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares during the period. 88.90% of the stock is currently owned by 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.