IAC (NASDAQ:IAC) Receives “Buy” Rating from Benchmark

IAC (NASDAQ:IAC)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They presently have a $110.00 price objective on the stock. Benchmark’s price objective would indicate a potential upside of 99.64% from the company’s previous close.

Several other analysts have also commented on IAC. Truist Financial raised 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. Citigroup cut their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. Barclays cut their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, KeyCorp decreased their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.89.

IAC Stock Performance

NASDAQ IAC opened at $55.10 on Tuesday. The firm has a market capitalization of $4.43 billion, a P/E ratio of -24.82 and a beta of 1.33. The stock has a 50-day simple moving average of $52.28 and a two-hundred day simple moving average of $50.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. IAC has a fifty-two week low of $43.51 and a fifty-two week high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. On average, equities analysts forecast that IAC will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of IAC in the first quarter valued at approximately $221,000. Headlands Technologies LLC increased its stake in shares of IAC by 106.2% in the 1st quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock worth $187,000 after acquiring an additional 1,803 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of IAC by 28.4% during the 1st quarter. QRG Capital Management Inc. now owns 25,166 shares of the company’s stock worth $1,342,000 after acquiring an additional 5,571 shares during the period. Russell Investments Group Ltd. boosted its position in shares of IAC by 29.0% during the 1st quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock valued at $5,595,000 after acquiring an additional 23,567 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of IAC by 6.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock valued at $4,619,000 after purchasing an additional 5,172 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.