Voya Investment Management LLC Invests $4.90 Million in IAA (NYSE:IAA)

Voya Investment Management LLC bought a new position in IAA (NYSE:IAA) in the 3rd quarter, HoldingsChannel reports. The fund bought 117,309 shares of the company’s stock, valued at approximately $4,896,000.

Other hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL increased its stake in IAA by 1.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 30,600 shares of the company’s stock valued at $1,277,000 after buying an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IAA by 5.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the company’s stock worth $339,000 after acquiring an additional 387 shares during the last quarter. Webster Bank N. A. increased its stake in shares of IAA by 91.8% in the third quarter. Webster Bank N. A. now owns 934 shares of the company’s stock worth $39,000 after acquiring an additional 447 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of IAA during the third quarter worth $29,000. Finally, Advisor Group Inc. purchased a new stake in shares of IAA during the second quarter worth $28,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

A number of brokerages have commented on IAA. Stephens restated an “overweight” rating and issued a $51.00 target price (up previously from $47.00) on shares of IAA in a research note on Wednesday, November 13th. SunTrust Banks reaffirmed a “buy” rating and issued a $53.00 target price on shares of IAA in a research report on Wednesday, August 14th. Zacks Investment Research raised IAA from a “sell” rating to a “hold” rating in a research note on Wednesday. Northcoast Research upgraded IAA from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, CJS Securities raised IAA to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $50.71.

IAA stock opened at $46.49 on Friday. IAA has a 1-year low of $34.96 and a 1-year high of $49.96. The firm’s fifty day simple moving average is $41.31.

IAA (NYSE:IAA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $357.30 million during the quarter, compared to the consensus estimate of $347.31 million. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, sell-side analysts forecast that IAA will post 1.58 earnings per share for the current fiscal year.

IAA Company Profile

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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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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