Barrington Research reiterated their hold rating on shares of IAA (NYSE:IAA) in a report 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 commented.
Several other equities analysts also recently issued reports on the company. Guggenheim assumed coverage on IAA in a research report on Tuesday, July 2nd. They issued a buy rating and a $48.00 price objective for the company. Stephens assumed coverage on IAA in a research report on Monday, July 1st. They issued an overweight rating and a $45.00 price objective for the company. SunTrust Banks reiterated a buy rating and issued a $53.00 price objective on shares of IAA in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on IAA in a research report on Wednesday, July 31st. They issued a buy rating and a $55.00 price objective for the company. Finally, Zacks Investment Research upgraded IAA from a hold rating to a strong-buy rating and set a $54.00 price objective for the company in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $49.67.
IAA (NYSE:IAA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The business had revenue of $366.40 million during the quarter, compared to the consensus estimate of $357.90 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that IAA will post 1.6 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. bought a new stake in shares of IAA during the second quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of IAA during the second quarter worth $33,000. Crewe Advisors LLC bought a new stake in shares of IAA during the second quarter worth $34,000. Cornerstone Advisors Inc. bought a new stake in shares of IAA during the second quarter worth $35,000. Finally, FTB Advisors Inc. bought a new stake in shares of IAA during the second quarter worth $34,000. Institutional investors 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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