IAC (NASDAQ:IAC) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of IAC (NASDAQ:IAC) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $110.00 price objective on the stock.

A number of other analysts also recently issued reports on the stock. Citigroup dropped their target price on shares of IAC from $72.00 to $70.00 and set a buy rating for the company in a research report on Thursday, May 9th. JMP Securities assumed coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an outperform rating and a $78.00 target price on the stock. Barclays lifted their target price on shares of IAC from $72.00 to $73.00 and gave the company an overweight rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price objective on IAC from $82.00 to $84.00 and gave the company an overweight rating in a research report on Tuesday, May 14th. Finally, StockNews.com cut IAC from a buy rating to a hold rating in a research note on Saturday, May 18th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $79.75.

IAC Trading Down 0.1 %

IAC stock traded down $0.06 on Thursday, hitting $49.59. 583,492 shares of the company were exchanged, compared to its average volume of 730,518. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -31.39 and a beta of 1.32. IAC has a twelve month low of $41.39 and a twelve month high of $58.76. The business’s fifty day moving average is $48.63 and its two-hundred day moving average is $51.00.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The company had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.76) earnings per share. As a group, research analysts forecast that IAC will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On IAC

A number of institutional investors have recently made changes to their positions in IAC. Riverview Trust Co acquired a new stake in IAC in the first quarter valued at $27,000. International Assets Investment Management LLC acquired a new stake in shares of IAC in the 2nd quarter valued at about $39,000. CWM LLC lifted its position in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in IAC in the second quarter worth about $60,000. Finally, Geneos Wealth Management Inc. bought a new stake in IAC in the first quarter valued at about $80,000. 88.90% of the stock is 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.