Benchmark Cuts IAC (NASDAQ:IAC) Price Target to $57.00

IAC (NASDAQ:IAC) had its target price decreased by Benchmark from $60.00 to $57.00 in a research note published on Wednesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

IAC has been the subject of several other reports. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays decreased their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. UBS Group decreased their price target on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.54.

IAC Stock Performance

Shares of IAC stock opened at $33.23 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $34.43 and a 200-day simple moving average of $36.24. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -12.17 and a beta of 1.25. IAC has a 12-month low of $29.56 and a 12-month high of $55.16.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the business earned ($2.93) EPS. On average, equities analysts forecast that IAC will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IAC. GAMMA Investing LLC lifted its holdings in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock valued at $35,000 after purchasing an additional 520 shares in the last quarter. Principal Financial Group Inc. raised its position in IAC by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 351,787 shares of the company’s stock worth $16,161,000 after buying an additional 8,396 shares during the last quarter. Bank of New York Mellon Corp raised its position in IAC by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 494,035 shares of the company’s stock worth $22,696,000 after buying an additional 6,515 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in IAC by 9.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 76,451 shares of the company’s stock valued at $3,512,000 after acquiring an additional 6,459 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after acquiring an additional 429 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

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.