IAA (NYSE:IAA) Sees Large Volume Increase

IAA (NYSE:IAA) shares saw unusually-strong trading volume on Monday . Approximately 1,090,195 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 1,311,196 shares.The stock last traded at $45.76 and had previously closed at $45.33.

A number of analysts recently commented on the stock. CJS Securities raised shares of IAA to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, November 13th. SunTrust Banks reissued a “buy” rating and set a $53.00 price target on shares of IAA in a research note 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, Stephens reiterated an “overweight” rating and set a $51.00 target price (up from $47.00) on shares of IAA in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. IAA presently has an average rating of “Buy” and an average target price of $50.71.

The firm has a 50-day moving average price of $40.74.

IAA (NYSE:IAA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The company 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 period last year, the business posted $0.33 EPS. On average, research analysts expect that IAA will post 1.58 EPS for the current year.

Several institutional investors have recently bought and sold shares of IAA. Virginia Retirement Systems ET AL lifted its position in shares of IAA by 1.0% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 30,600 shares of the company’s stock worth $1,277,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IAA by 5.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the company’s stock valued at $339,000 after buying an additional 387 shares during the period. Webster Bank N. A. boosted its holdings in IAA by 91.8% in the third quarter. Webster Bank N. A. now owns 934 shares of the company’s stock valued at $39,000 after acquiring an additional 447 shares during the last quarter. Riverview Trust Co bought a new stake in shares of IAA during the third quarter worth approximately $29,000. Finally, Advisor Group Inc. bought a new stake in shares of IAA during the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

IAA Company Profile (NYSE:IAA)

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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