Farmers & Merchants Trust Co of Chambersburg PA Makes New Investment in IAA (NYSE:IAA)

Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in IAA (NYSE:IAA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 46,360 shares of the company’s stock, valued at approximately $1,899,000. IAA accounts for about 1.7% of Farmers & Merchants Trust Co of Chambersburg PA’s portfolio, making the stock its 18th largest holding.

Several other institutional investors have also recently modified their holdings of the business. Cornerstone Advisors Inc. acquired a new position in shares of IAA during the 2nd quarter worth about $35,000. Oakbrook Investments LLC acquired a new position in shares of IAA during the 2nd quarter worth about $279,000. Nisa Investment Advisors LLC acquired a new position in shares of IAA during the 2nd quarter worth about $289,000. NEXT Financial Group Inc acquired a new position in shares of IAA during the 2nd quarter worth about $326,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of IAA during the 2nd quarter worth about $506,000.

Several research analysts recently weighed in on IAA shares. Guggenheim upped their price target on shares of Equinix from $505.00 to $540.00 and gave the stock a “sell” rating in a research report on Tuesday, July 2nd. Northcoast Research restated a “neutral” rating on shares of IAA in a research report on Monday, July 1st. Robert W. Baird started coverage on shares of IAA in a research report on Friday, June 28th. They set an “outperform” rating for the company. Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the stock a “hold” rating in a research report on Monday, July 1st. Finally, Wolfe Research set a $69.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. IAA has a consensus rating of “Buy” and a consensus price target of $45.75.

IAA stock traded up $0.22 during mid-day trading on Tuesday, reaching $47.19. The company’s stock had a trading volume of 2,720 shares, compared to its average volume of 1,875,607. IAA has a fifty-two week low of $38.08 and a fifty-two week high of $47.88.

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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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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