IAC (NASDAQ:IAC) Given Buy Rating at Benchmark

IAC (NASDAQ:IAC - Get Free Report)'s stock had its "buy" rating reissued by Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $110.00 price objective on the stock. Benchmark's target price would indicate a potential upside of 122.90% from the company's current price.

A number of other brokerages have also recently issued reports on IAC. UBS Group raised IAC to a "hold" rating in a report on Monday, October 28th. Citigroup lowered their target price on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. KeyCorp lowered their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Barclays reduced their price objective on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial upped 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.89.

IAC Stock Performance

Shares of IAC stock traded down $5.75 during midday trading on Tuesday, hitting $49.35. The company had a trading volume of 1,426,505 shares, compared to its average volume of 661,326. The stock has a market cap of $3.96 billion, a PE ratio of -22.50 and a beta of 1.33. IAC has a 1-year low of $43.51 and a 1-year high of $58.29. The business's 50 day simple moving average is $52.28 and its two-hundred day simple moving average is $50.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results 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). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. IAC's quarterly revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts predict that IAC will post -0.79 EPS for the current fiscal year.

Institutional Trading of IAC

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of IAC by 5,474.2% during the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock valued at $16,090,000 after buying an additional 337,268 shares during the period. DME Capital Management LP purchased a new position in IAC during the 2nd quarter valued at $13,655,000. Bank of New York Mellon Corp boosted its position in shares of IAC by 113.4% during 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 in the last quarter. Swedbank AB bought a new stake in shares of IAC in the 1st quarter worth approximately $11,460,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of IAC during the second quarter valued at approximately $7,200,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.