IAA, Inc. Expected to Post Q2 2022 Earnings of $0.56 Per Share (NYSE:IAA)

IAA, Inc. (NYSE:IAAGet Rating) – Jefferies Financial Group lowered their Q2 2022 earnings per share (EPS) estimates for shares of IAA in a research report issued on Tuesday, May 10th. Jefferies Financial Group analyst B. Jordan now anticipates that the company will post earnings per share of $0.56 for the quarter, down from their previous forecast of $0.57. Jefferies Financial Group also issued estimates for IAA’s Q3 2022 earnings at $0.54 EPS, Q1 2023 earnings at $0.69 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.64 EPS and FY2023 earnings at $2.53 EPS.

IAA (NYSE:IAAGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. IAA had a return on equity of 106.58% and a net margin of 15.39%. The company had revenue of $557.60 million for the quarter, compared to the consensus estimate of $533.75 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the company. Guggenheim downgraded IAA from a “buy” rating to a “neutral” rating in a research report on Monday, February 14th. TheStreet downgraded IAA from a “c-” rating to a “d+” rating in a report on Wednesday, March 23rd. Robert W. Baird lowered their price target on IAA from $70.00 to $55.00 in a report on Monday, February 14th. Barrington Research raised IAA from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Tuesday. Finally, Truist Financial lowered their price target on IAA from $75.00 to $50.00 and set a “buy” rating for the company in a report on Monday, February 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, IAA has a consensus rating of “Buy” and an average target price of $52.75.

Shares of IAA stock opened at $36.45 on Thursday. IAA has a 1-year low of $31.32 and a 1-year high of $63.49. The stock’s 50-day moving average is $37.06 and its 200 day moving average is $43.58. The company has a market cap of $4.89 billion, a P/E ratio of 16.20 and a beta of 1.56. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.52 and a quick ratio of 1.27.

In other news, CEO John W. Kett acquired 5,000 shares of IAA stock in a transaction dated Monday, March 7th. The stock was purchased at an average cost of $32.28 per share, for a total transaction of $161,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Kamin acquired 35,000 shares of IAA stock in a transaction dated Tuesday, February 22nd. The stock was purchased at an average price of $34.86 per share, with a total value of $1,220,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 220,100 shares of company stock valued at $7,729,181. Company insiders own 0.17% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in IAA by 251.5% during the first quarter. Fifth Third Bancorp now owns 717 shares of the company’s stock valued at $27,000 after acquiring an additional 513 shares in the last quarter. Signaturefd LLC raised its position in IAA by 334.9% during the first quarter. Signaturefd LLC now owns 722 shares of the company’s stock valued at $28,000 after acquiring an additional 556 shares in the last quarter. Consolidated Planning Corp purchased a new position in IAA during the third quarter valued at approximately $29,000. Confluence Wealth Services Inc. purchased a new position in IAA during the fourth quarter valued at approximately $29,000. Finally, Covestor Ltd purchased a new position in IAA during the fourth quarter valued at approximately $32,000. Institutional investors own 99.68% of the company’s stock.

About IAA (Get Rating)

IAA, Inc operates a digital marketplace that connects vehicle buyers and sellers. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a range of sellers. It provides buyers with various bidding/buying digital channels, vehicle merchandising, evaluation services and online bidding tools, and replacement part inventory.

See Also

Earnings History and Estimates for IAA (NYSE:IAA)

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