Barrington Research reissued their hold rating on shares of IAA (NYSE:IAA) in a research note released on Thursday morning, 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.”,” Barrington Research’s analyst wrote.
IAA has been the topic of several other reports. Stephens assumed coverage on shares of IAA in a report on Monday, July 1st. They set an overweight rating and a $45.00 target price on the stock. Robert W. Baird assumed coverage on shares of IAA in a report on Friday, June 28th. They set an outperform rating on the stock. Jefferies Financial Group assumed coverage on shares of IAA in a report on Wednesday, July 31st. They set a buy rating and a $55.00 target price on the stock. Northcoast Research reaffirmed a neutral rating on shares of IAA in a report on Monday, July 1st. Finally, SunTrust Banks reaffirmed a buy rating and set a $53.00 target price on shares of IAA in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $49.67.
IAA (NYSE:IAA) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ 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 in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that IAA will post 1.6 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners acquired a new stake in shares of IAA during the 2nd quarter worth approximately $181,542,000. Atria Investments LLC acquired a new stake in shares of IAA during the 2nd quarter worth approximately $246,000. Treasurer of the State of North Carolina acquired a new stake in shares of IAA during the 2nd quarter worth approximately $2,211,000. BlackRock Inc. acquired a new stake in shares of IAA during the 2nd quarter worth approximately $398,867,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of IAA during the 2nd quarter worth approximately $224,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
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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