IAA (NYSE:IAA) Receives Buy Rating from SunTrust Banks

IAA (NYSE:IAA)‘s stock had its “buy” rating reaffirmed by equities researchers at SunTrust Banks in a research note issued on Wednesday, The Fly reports. They currently have a $53.00 target price on the stock. SunTrust Banks’ target price suggests a potential upside of 16.41% from the company’s previous close.

IAA has been the topic of a number of other research reports. Jefferies Financial Group started coverage on shares of IAA in a research report on Wednesday, July 31st. They issued a “buy” rating and a $55.00 target price on the stock. Wolfe Research started coverage on shares of IAA in a research report on Friday, July 12th. They issued an “outperform” rating on the stock. Robert W. Baird started coverage on shares of IAA in a research report on Friday, June 28th. They issued an “outperform” rating on the stock. Guggenheim initiated coverage on shares of IAA in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Northcoast Research reissued a “neutral” rating on shares of IAA in a research report on Monday, July 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. IAA has a consensus rating of “Buy” and a consensus target price of $48.80.

NYSE IAA opened at $45.53 on Wednesday. IAA has a 12 month low of $38.08 and a 12 month high of $48.49.

IAA (NYSE:IAA) last posted its earnings results on Tuesday, August 13th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.08. The company had revenue of $366.40 million during the quarter, compared to analyst estimates of $357.90 million. During the same period in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that IAA will post 1.38 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of IAA. Advisor Group Inc. acquired a new stake in shares of IAA during the second quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of IAA during the second quarter worth about $33,000. FTB Advisors Inc. acquired a new stake in shares of IAA during the second quarter worth about $34,000. Crewe Advisors LLC acquired a new stake in shares of IAA during the second quarter worth about $34,000. Finally, Cornerstone Advisors Inc. acquired a new stake in shares of IAA during the second quarter worth about $35,000.

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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