Benchmark Cuts IAC (NASDAQ:IAC) Price Target to $100.00

IAC (NASDAQ:IAC) had its price objective lowered by investment analysts at Benchmark from $105.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 114.96% from the stock’s previous close.

Other analysts have also issued research reports about the stock. JMP Securities lowered their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Barclays cut their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup boosted their target price on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, UBS Group cut their price target on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Trading Up 7.2 %

Shares of IAC traded up $3.13 during trading hours on Thursday, hitting $46.52. 684,037 shares of the stock were exchanged, compared to its average volume of 741,748. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The business has a 50-day moving average of $43.10 and a 200-day moving average of $48.21. The firm has a market capitalization of $3.74 billion, a P/E ratio of -108.18 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts expect that IAC will post -3.97 EPS for the current year.

Institutional Trading of IAC

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in IAC by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company’s stock valued at $341,097,000 after acquiring an additional 43,772 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the period. State Street Corp increased its stake in shares of IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after acquiring an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company’s stock valued at $68,306,000 after buying an additional 130,604 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in IAC by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after purchasing an additional 25,909 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.