IAC (NASDAQ:IAC) Rating Reiterated by Benchmark

IAC (NASDAQ:IAC)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a report issued on Tuesday, Benzinga reports. They currently have a $110.00 target price on the stock. Benchmark’s price objective indicates a potential upside of 114.47% from the company’s previous close.

IAC has been the subject of a number of other research reports. Wells Fargo & Company raised their target price on IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. StockNews.com lowered shares of IAC from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Oppenheimer lifted their price target on shares of IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Barclays dropped their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, IAC has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Stock Down 1.4 %

Shares of NASDAQ:IAC opened at $51.29 on Tuesday. IAC has a fifty-two week low of $41.39 and a fifty-two week high of $58.29. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $49.32 and its 200-day simple moving average is $50.98. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -32.46 and a beta of 1.32.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of IAC during the 4th quarter worth $39,426,000. First Trust Advisors LP acquired a new position in shares of IAC during the 4th quarter valued at about $27,053,000. Principal Financial Group Inc. lifted its holdings in shares of IAC by 5,474.2% during the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after acquiring an additional 337,268 shares during the period. DME Capital Management LP acquired a new stake in shares of IAC in the second quarter worth approximately $13,655,000. Finally, Bank of New York Mellon Corp grew its holdings in IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the period. 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.