IAC (NASDAQ:IAC) Given New $57.00 Price Target at Benchmark

IAC (NASDAQ:IAC) had its price objective trimmed by Benchmark from $60.00 to $57.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the company. Oppenheimer reduced their target price on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Piper Sandler reduced their target price on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Truist Financial reduced their target price on IAC from $61.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group reduced their target price on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.54.

IAC Trading Up 3.2%

Shares of IAC stock opened at $33.01 on Wednesday. IAC has a fifty-two week low of $29.56 and a fifty-two week high of $55.16. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -12.09 and a beta of 1.25. The company has a quick ratio of 2.87, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $34.57 and a 200-day simple moving average of $36.26.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The company had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same period in the prior year, the company earned ($2.93) earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts forecast that IAC will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

Several hedge funds have recently bought and sold shares of the business. TD Private Client Wealth LLC increased its position in IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. GAMMA Investing LLC increased its position in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after purchasing an additional 520 shares during the last quarter. Farther Finance Advisors LLC increased its position in IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after purchasing an additional 829 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in IAC in the 2nd quarter worth about $51,000. Finally, North Capital Inc. acquired a new position in IAC in the 2nd quarter worth about $75,000. 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.