Barrington Research restated their hold rating on shares of IAA (NYSE:IAA) in a research report sent to investors on Thursday, AnalystRatings.com reports.
“We believe that as an independent public company, IAA will have control over its own destiny with a goal of driving consistent growth in sales and adjusted EBITDA through market share gains and margin expansion with solid excess cash flow generation for the enhancement of long‐term shareholder value.”,” the firm’s analyst commented.
Several other equities research analysts also recently weighed in on IAA. Zacks Investment Research raised shares of IAA from a hold rating to a strong-buy rating and set a $54.00 price target for the company in a research note on Thursday, August 29th. SunTrust Banks reaffirmed a buy rating and issued a $53.00 price target on shares of IAA in a research note on Wednesday, August 14th. Stephens initiated coverage on shares of IAA in a research note on Monday, July 1st. They issued an overweight rating and a $45.00 price target for the company. CJS Securities downgraded shares of IAA from an outperform rating to a market perform rating in a research note on Wednesday, August 14th. Finally, Wolfe Research initiated coverage on shares of IAA in a research note on Friday, July 12th. They issued an outperform rating for the company. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. IAA currently has a consensus rating of Buy and an average target price of $49.67.
IAA (NYSE:IAA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $366.40 million during the quarter, compared to the consensus estimate of $357.90 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that IAA will post 1.6 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners acquired a new position in shares of IAA during the second quarter valued at about $181,542,000. Atria Investments LLC acquired a new position in shares of IAA during the second quarter valued at about $246,000. Treasurer of the State of North Carolina acquired a new position in shares of IAA during the second quarter valued at about $2,211,000. BlackRock Inc. acquired a new position in shares of IAA during the second quarter valued at about $398,867,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of IAA during the second quarter valued at about $224,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
IAA, Inc provides salvage vehicle auctions and related services. It offers salvage auction services, such as inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The company's salvage auctions facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, charity donation vehicles, recovered stolen (or theft) vehicles, and low value used vehicles through live and online auctions.
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