Benchmark Reaffirms Buy Rating for IAC (NASDAQ:IAC)

IAC (NASDAQ:IAC)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $110.00 target price on the stock. Benchmark’s target price indicates a potential upside of 99.64% from the stock’s current price.

Several other research firms also recently weighed in on IAC. KeyCorp decreased their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays reduced their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup lowered their target price on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

IAC Stock Up 3.1 %

NASDAQ:IAC opened at $55.10 on Tuesday. The stock has a fifty day simple moving average of $52.28 and a 200-day simple moving average of $50.94. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -24.82 and a beta of 1.33. IAC has a twelve month low of $43.51 and a twelve month high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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). The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm earned ($0.30) earnings per share. Analysts anticipate that IAC will post -0.79 EPS for the current year.

Institutional Investors Weigh In On IAC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. International Assets Investment Management LLC acquired a new stake in shares of IAC during the second quarter worth $39,000. GAMMA Investing LLC lifted its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. CWM LLC grew its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of IAC in the second quarter valued at about $60,000. Finally, Innealta Capital LLC purchased a new position in shares of IAC in the second quarter worth about $146,000. 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.