IAA (NYSE:IAA) shares traded up 14.1% on Wednesday . The company traded as high as $29.99 and last traded at $32.12, 45,527 shares were traded during mid-day trading. A decline of 97% from the average session volume of 1,573,607 shares. The stock had previously closed at $28.14.
A number of research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of IAA from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Stephens dropped their target price on shares of IAA from $53.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Barrington Research upgraded shares of IAA from a “market perform” rating to an “outperform” rating in a research report on Monday, March 16th. Northcoast Research upgraded shares of IAA from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, Zacks Investment Research lowered shares of IAA from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.13.
The stock has a market capitalization of $3.77 billion and a price-to-earnings ratio of 20.33. The business’s 50-day moving average is $41.77 and its two-hundred day moving average is $43.39.
IAA (NYSE:IAA) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $355.90 million for the quarter, compared to analyst estimates of $348.11 million. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that IAA will post 1.43 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of IAA. SG Americas Securities LLC purchased a new position in IAA during the third quarter worth about $161,000. Colony Group LLC increased its stake in IAA by 12.6% during the 3rd quarter. Colony Group LLC now owns 107,078 shares of the company’s stock worth $4,468,000 after buying an additional 12,008 shares during the period. Voya Investment Management LLC purchased a new stake in IAA during the 3rd quarter worth approximately $4,896,000. Point72 Asset Management L.P. increased its stake in IAA by 445.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,277,391 shares of the company’s stock worth $53,306,000 after buying an additional 1,043,184 shares during the period. Finally, Barclays PLC increased its stake in IAA by 444.9% during the 3rd quarter. Barclays PLC now owns 86,469 shares of the company’s stock worth $3,608,000 after buying an additional 70,600 shares during the period.
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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