IAA (NYSE:IAA) Receives $47.60 Average PT from Analysts

Shares of IAA (NYSE:IAA) have earned an average rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $47.60.

IAA has been the topic of several recent research reports. SunTrust Banks initiated coverage on IAA in a research report on Monday, July 1st. They issued a “buy” rating and a $47.00 price objective on the stock. Guggenheim began coverage on IAA in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $48.00 target price for the company. Wolfe Research started coverage on IAA in a research note on Friday, July 12th. They issued an “outperform” rating for the company. Northcoast Research reiterated a “neutral” rating on shares of IAA in a report on Monday, July 1st. Finally, Stephens started coverage on IAA in a report on Monday, July 1st. They set an “overweight” rating and a $45.00 price target for the company.

Several institutional investors have recently bought and sold shares of the stock. Mawer Investment Management Ltd. acquired a new position in shares of IAA in the second quarter worth $154,280,000. Janus Henderson Group PLC purchased a new stake in shares of IAA in the second quarter worth about $132,397,000. Bessemer Group Inc. purchased a new position in IAA in the second quarter valued at about $105,420,000. JPMorgan Chase & Co. purchased a new position in IAA in the second quarter valued at about $94,257,000. Finally, Sarasin & Partners LLP purchased a new position in IAA in the second quarter valued at about $51,379,000.

Shares of IAA stock traded down $2.00 during trading hours on Friday, reaching $45.01. 1,627,800 shares of the company’s stock were exchanged, compared to its average volume of 1,638,197. IAA has a 1 year low of $38.08 and a 1 year high of $48.49.

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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