IAA (NYSE:IAA) Stock Rating Upgraded by Zacks Investment Research

IAA (NYSE:IAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “IAA, Inc. provides salvage vehicle auctions and related services. It offers inbound transportation logistics, inspection, evaluation, salvage recovery, titling and settlement administrative services. IAA, Inc. is based in Westchester, Illinois. “

A number of other equities analysts also recently weighed in on IAA. CJS Securities downgraded shares of 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 began coverage on shares of IAA in a research note on Wednesday, July 31st. They issued a “buy” rating and a $55.00 target price for the company. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $53.00 target price on shares of IAA in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.71.

NYSE IAA traded down $0.17 during midday trading on Tuesday, hitting $42.28. The company had a trading volume of 663,299 shares, compared to its average volume of 1,266,702. The stock has a fifty day moving average of $39.29. IAA has a fifty-two week low of $34.96 and a fifty-two week high of $49.96.

IAA (NYSE:IAA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $357.30 million for the quarter, compared to the consensus estimate of $347.31 million. IAA’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Sell-side analysts forecast that IAA will post 1.59 earnings per share for the current year.

Large investors have recently modified their holdings of the company. KAMES CAPITAL plc acquired a new position in IAA during the second quarter valued at approximately $23,638,000. Retirement Systems of Alabama bought a new position in IAA in the second quarter valued at approximately $1,991,000. First National Bank of Omaha bought a new position in IAA in the second quarter valued at approximately $3,812,000. NN Investment Partners Holdings N.V. bought a new position in IAA in the second quarter valued at approximately $506,000. Finally, Nisa Investment Advisors LLC bought a new position in IAA in the second quarter valued at approximately $289,000. Institutional investors own 95.82% of the company’s stock.

About 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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Analyst Recommendations for IAA (NYSE:IAA)

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