IAA (NYSE:IAA) Shares Up 10.8%

IAA (NYSE:IAA) shares shot up 10.8% during trading on Tuesday . The company traded as high as $43.36 and last traded at $43.10, 4,039,279 shares changed hands during mid-day trading. An increase of 205% from the average session volume of 1,325,003 shares. The stock had previously closed at $38.90.

A number of research firms recently commented on IAA. Zacks Investment Research raised IAA from a “sell” rating to a “hold” rating in a research note on Tuesday. CJS Securities cut IAA from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 14th. Barrington Research reaffirmed a “hold” rating on shares of IAA in a research note on Thursday, September 12th. Jefferies Financial Group assumed coverage on IAA in a research note on Wednesday, July 31st. They set a “buy” rating and a $55.00 price objective on the stock. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $53.00 price objective on shares of IAA in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $49.67.

The firm’s 50 day moving average price is $39.32.

IAA (NYSE:IAA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.08. The company had revenue of $366.40 million for the quarter, compared to the consensus estimate of $357.90 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that IAA will post 1.59 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of IAA during the third quarter worth about $29,000. Advisor Group Inc. purchased a new stake in shares of IAA during the second quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of IAA during the second quarter worth about $33,000. Crewe Advisors LLC purchased a new stake in shares of IAA during the second quarter worth about $34,000. Finally, Cornerstone Advisors Inc. purchased a new stake in shares of IAA during the second quarter worth about $35,000. 95.82% of the stock is currently owned by hedge funds and other institutional investors.

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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