Benchmark reaffirmed their buy rating on shares of IAC (NASDAQ:IAC - Free Report) in a research report released on Thursday, Benzinga reports. The firm currently has a $110.00 target price on the stock.
Other analysts have also recently issued reports about the company. Truist Financial raised their target price on IAC from $87.00 to $88.00 and gave the company a buy rating in a research report on Thursday. KeyCorp upped their price objective on shares of IAC from $64.00 to $67.00 and gave the stock an overweight rating in a report on Monday, May 13th. StockNews.com cut shares of IAC from a buy rating to a hold rating in a research note on Saturday, May 18th. Citigroup reduced their price target on shares of IAC from $72.00 to $70.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Wells Fargo & Company raised their price objective on shares of IAC from $82.00 to $84.00 and gave the company an overweight rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, IAC has an average rating of Moderate Buy and a consensus target price of $79.75.
Get Our Latest Stock Analysis on IAC
IAC Stock Performance
Shares of IAC traded up $1.08 during midday trading on Thursday, hitting $49.65. 758,895 shares of the stock traded hands, compared to its average volume of 731,485. The business's 50 day moving average price is $48.63 and its two-hundred day moving average price is $51.01. The firm has a market capitalization of $3.99 billion, a PE ratio of -31.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70. IAC has a 1-year low of $41.39 and a 1-year high of $61.56.
IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (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 for the quarter, compared to analyst estimates of $942.77 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The company's revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts predict that IAC will post 0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On IAC
A number of hedge funds have recently modified their holdings of IAC. Norges Bank acquired a new position in shares of IAC in the 4th quarter valued at $39,426,000. First Trust Advisors LP purchased a new position in shares of IAC in the fourth quarter worth approximately $27,053,000. Principal Financial Group Inc. increased its position in shares of IAC by 5,474.2% in the second 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 in the last quarter. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 282,304 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in shares of IAC by 25.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,299,646 shares of the company's stock valued at $68,075,000 after acquiring an additional 265,235 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.
IAC Company Profile
(Get Free Report)
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.
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