IAA (NYSE:IAA) Given Consensus Recommendation of “Buy” by Brokerages

IAA (NYSE:IAA) has earned an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $51.60.

Several research firms have issued reports on IAA. CJS Securities raised IAA to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, November 13th. Northcoast Research raised IAA from a “neutral” rating to a “buy” rating in a report on Wednesday, December 4th. SunTrust Banks reaffirmed a “buy” rating and issued a $53.00 price target on shares of IAA in a report on Wednesday, August 14th. Stephens reaffirmed an “overweight” rating and issued a $51.00 price target (up previously from $47.00) on shares of IAA in a report on Wednesday, November 13th. Finally, Zacks Investment Research raised IAA from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. purchased a new position in IAA during the 2nd quarter worth approximately $28,000. Riverview Trust Co purchased a new position in IAA during the 3rd quarter worth approximately $29,000. FTB Advisors Inc. purchased a new position in IAA during the 2nd quarter worth approximately $34,000. Crewe Advisors LLC purchased a new position in IAA during the 2nd quarter worth approximately $34,000. Finally, Webster Bank N. A. grew its position in IAA by 91.8% during the 3rd quarter. Webster Bank N. A. now owns 934 shares of the company’s stock worth $39,000 after purchasing an additional 447 shares in the last quarter. 97.46% of the stock is currently owned by institutional investors.

NYSE:IAA traded down $1.34 during midday trading on Thursday, hitting $44.61. 1,574,773 shares of the stock were exchanged, compared to its average volume of 1,309,692. IAA has a one year low of $34.96 and a one year high of $49.96. The company’s 50-day moving average price is $41.96.

IAA (NYSE:IAA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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. IAA’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. On average, equities analysts predict that IAA will post 1.59 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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Analyst Recommendations for IAA (NYSE:IAA)

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