IAA (NYSE:IAA) Upgraded by CJS Securities to “Buy”

CJS Securities upgraded shares of IAA (NYSE:IAA) to a buy rating in a report released on Wednesday, TipRanks reports. The brokerage currently has $51.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group began coverage on IAA in a research report on Wednesday, July 31st. They issued a buy rating and a $55.00 price objective on the stock. Stephens reaffirmed an overweight rating and issued a $51.00 price objective (up from $47.00) on shares of IAA in a research report on Wednesday. Zacks Investment Research raised IAA from a sell rating to a hold rating in a research report on Tuesday, November 12th. Barrington Research reaffirmed a hold rating on shares of IAA in a research report on Thursday, September 12th. Finally, SunTrust Banks reaffirmed a buy rating and issued a $53.00 price objective on shares of IAA in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. IAA has an average rating of Buy and an average price target of $50.71.

IAA stock traded down $0.17 during midday trading on Wednesday, hitting $42.28. The company’s stock had a trading volume of 663,299 shares, compared to its average volume of 1,247,321. IAA has a 12 month low of $34.96 and a 12 month high of $49.96. The business has a 50-day simple moving average of $39.29.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Penn Capital Management Co. Inc. purchased a new stake in IAA during the 2nd quarter valued at $2,203,000. Aperio Group LLC purchased a new stake in IAA during the 2nd quarter valued at $1,484,000. Cornerstone Advisors Inc. purchased a new stake in IAA during the 2nd quarter valued at $35,000. CWM LLC purchased a new stake in IAA during the 2nd quarter valued at $4,987,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in IAA during the 3rd quarter valued at $5,504,000. Institutional investors and hedge funds own 95.82% 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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Analyst Recommendations for IAA (NYSE:IAA)

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