IAC (NASDAQ:IAC) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of IAC (NASDAQ:IAC) in a report released on Tuesday morning,Benzinga reports. Benchmark currently has a $110.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. 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 reduced their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays decreased their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, KeyCorp cut their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.89.

IAC Trading Down 12.6 %

Shares of IAC stock opened at $48.18 on Tuesday. The stock has a fifty day moving average of $52.28 and a 200 day moving average of $50.94. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share 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 5.57%. The company had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period last year, the business earned ($0.30) EPS. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, research analysts predict that IAC will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of hedge funds have recently added to or reduced their stakes in IAC. Tandem Capital Management Corp ADV increased its position 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 purchasing an additional 260 shares during the last quarter. Greenwich Wealth Management LLC grew its position in IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after buying an additional 284 shares during the period. Nisa Investment Advisors LLC increased its holdings in IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after buying an additional 405 shares during the last quarter. CWM LLC raised its position in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares during the period. Finally, Victory Capital Management Inc. raised its position in IAC by 1.6% in the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after acquiring an additional 490 shares during the period. 88.90% of the stock is currently 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.