United Capital Financial Advisers LLC bought a new stake in shares of IAA (NYSE:IAA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,540 shares of the company’s stock, valued at approximately $1,301,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Aperio Group LLC bought a new position in IAA during the 2nd quarter valued at about $1,484,000. Cornerstone Advisors Inc. bought a new position in IAA during the 2nd quarter valued at about $35,000. CWM LLC bought a new position in IAA during the 2nd quarter valued at about $4,987,000. Janney Montgomery Scott LLC bought a new position in IAA during the 2nd quarter valued at about $1,826,000. Finally, Teacher Retirement System of Texas bought a new position in IAA during the 2nd quarter valued at about $36,410,000. Institutional investors and hedge funds own 93.83% of the company’s stock.
IAA has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of IAA from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research note on Thursday, August 29th. Stephens started coverage on shares of IAA in a research note on Monday, July 1st. They issued an “overweight” rating and a $45.00 price objective on the stock. Wolfe Research started coverage on shares of IAA in a research note on Friday, July 12th. They issued an “outperform” rating on the stock. Barrington Research reiterated a “hold” rating on shares of IAA in a research note on Thursday, September 12th. Finally, Guggenheim started coverage on shares of IAA in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $48.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. IAA has an average rating of “Buy” and a consensus target price of $49.67.
IAA (NYSE:IAA) last released its earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The firm had revenue of $366.40 million during the quarter, compared to analysts’ expectations of $357.90 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, analysts predict that IAA will post 1.6 EPS for the current fiscal year.
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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