Benchmark Reaffirms Buy Rating for IAC (NASDAQ:IAC)

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

Several other equities analysts have also recently issued reports on IAC. Truist Financial boosted their target price on IAC from $87.00 to $88.00 and gave the company a buy rating in a research note on Thursday, August 8th. StockNews.com lowered shares of IAC from a buy rating to a hold rating in a report on Saturday, May 18th. Oppenheimer lifted their target price on shares of IAC from $65.00 to $75.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Barclays lowered 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 decreased their target price on IAC from $67.00 to $66.00 and set an overweight rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $76.40.

IAC Trading Up 1.8 %

NASDAQ:IAC opened at $52.20 on Tuesday. The firm has a market capitalization of $4.19 billion, a P/E ratio of -33.04 and a beta of 1.32. IAC has a 52 week low of $41.39 and a 52 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 company has a fifty day moving average of $49.32 and a 200 day moving average of $50.98.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share 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 firm had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, research analysts predict that IAC will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several institutional investors and hedge funds have recently modified their holdings of IAC. Norges Bank purchased a new position in IAC in the 4th quarter worth approximately $39,426,000. Segantii Capital Management Ltd purchased a new position in shares of IAC in the fourth quarter worth $2,881,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of IAC by 12.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock valued at $11,483,000 after purchasing an additional 24,589 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of IAC during the first quarter valued at $575,000. Finally, Patient Capital Management LLC increased its holdings in IAC by 7.7% in 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 in the last quarter. 88.90% of the stock is currently owned by 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.