IAC’s (IAC) Buy Rating Reiterated at Benchmark

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

Several other research analysts also recently weighed in on IAC. Citigroup decreased their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial upped their target price on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. KeyCorp reduced their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Barclays reduced their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Trading Down 0.7 %

IAC traded down $0.32 during trading on Tuesday, hitting $46.66. 170,983 shares of the company’s stock were exchanged, compared to its average volume of 662,408. 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 1 year low of $43.51 and a 1 year high of $58.29. The stock has a 50 day moving average price of $52.03 and a 200 day moving average price of $50.88. The firm has a market cap of $3.76 billion, a P/E ratio of -108.07 and a beta of 1.33.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during 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%. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) earnings per share. As a group, analysts expect that IAC will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently bought and sold shares of IAC. Principal Financial Group Inc. increased its holdings in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after buying an additional 337,268 shares during the period. DME Capital Management LP bought a new stake in shares of IAC in the 2nd quarter worth about $13,655,000. Bank of New York Mellon Corp grew its holdings in shares of IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares during the last quarter. Swedbank AB bought a new stake in shares of IAC in the 1st quarter worth about $11,460,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of IAC in the 2nd quarter worth about $7,200,000. 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.