IAC’s (IAC) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of IAC (NASDAQ:IAC) in a research note released on Tuesday,Benzinga reports. The firm currently has a $110.00 price objective on the stock.

A number of other research analysts also recently issued reports on IAC. KeyCorp cut their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Citigroup cut 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. Truist Financial increased their price target on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Finally, Barclays cut their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Price Performance

NASDAQ IAC traded down $0.32 on Tuesday, hitting $46.66. 170,983 shares of the company were exchanged, compared to its average volume of 662,408. The firm has a 50 day moving average of $52.03 and a two-hundred day moving average of $50.88. The company has a market cap of $3.76 billion, a P/E ratio of -108.07 and a beta of 1.33. 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.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter last year, the company earned ($0.30) EPS. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. On average, equities analysts predict that IAC will post -0.82 EPS for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds have recently made changes to their positions in IAC. International Assets Investment Management LLC bought a new position in shares of IAC during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC boosted its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the last quarter. CWM LLC boosted its holdings in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC in the 2nd quarter valued at approximately $60,000. Finally, Innealta Capital LLC acquired a new stake in IAC during the 2nd quarter valued at $146,000. 88.90% of the stock is owned by institutional investors.

About IAC

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.