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

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

IAC has been the topic of a number of other reports. Truist Financial raised 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. Citigroup dropped their price objective on IAC from $72.00 to $70.00 and set a buy rating on the stock in a research note on Thursday, May 9th. JMP Securities assumed coverage on IAC in a research note on Tuesday, July 9th. They set an outperform rating and a $78.00 target price for the company. Wells Fargo & Company lifted their price target on IAC from $82.00 to $84.00 and gave the stock an overweight rating in a research report on Tuesday, May 14th. Finally, Oppenheimer increased their price objective on IAC from $65.00 to $75.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $79.75.

IAC Stock Down 0.1 %

Shares of IAC traded down $0.06 during trading hours on Thursday, hitting $49.59. 583,492 shares of the company were exchanged, compared to its average volume of 730,518. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70. The company has a market cap of $3.98 billion, a PE ratio of -31.39 and a beta of 1.32. The firm’s 50 day moving average is $48.63 and its 200-day moving average is $51.00. IAC has a 52 week low of $41.39 and a 52 week high of $58.76.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. During the same period in the previous year, the company earned ($0.76) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts forecast that IAC will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently made changes to their positions in the business. Freshford Capital Management LLC boosted its position in shares of IAC by 18.7% during the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock valued at $86,182,000 after acquiring an additional 259,000 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares during the period. Whitebox Advisors LLC raised its holdings in shares of IAC by 9.5% in the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after buying an additional 121,664 shares in the last quarter. Patient Capital Management LLC lifted its position in shares of IAC by 7.7% during the 4th quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock worth $71,600,000 after buying an additional 97,938 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in IAC by 25.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,299,646 shares of the company’s stock valued at $68,075,000 after buying an additional 265,235 shares in the last quarter. Institutional investors and hedge funds 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.