IAA (NYSE:IAA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of IAA (NYSE:IAA) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “IAA, Inc. provides salvage vehicle auctions and related services. It offers inbound transportation logistics, inspection, evaluation, salvage recovery, titling and settlement administrative services. IAA, Inc. is based in Westchester, Illinois. “

IAA has been the topic of a number of other research reports. SunTrust Banks reiterated a buy rating and set a $53.00 price objective on shares of IAA in a research note on Wednesday, August 14th. Wolfe Research assumed coverage on shares of IAA in a research note on Friday, July 12th. They set an outperform rating on the stock. Barrington Research reiterated a hold rating on shares of IAA in a research note on Thursday, September 12th. CJS Securities lowered shares of IAA from an outperform rating to a market perform rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group assumed coverage on shares of IAA in a research note on Wednesday, July 31st. They set a buy rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. IAA has a consensus rating of Buy and a consensus target price of $49.67.

NYSE IAA opened at $38.24 on Tuesday. IAA has a one year low of $34.96 and a one year high of $49.96. The firm has a 50 day simple moving average of $39.61.

IAA (NYSE:IAA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The business had revenue of $366.40 million during the quarter, compared to analysts’ expectations of $357.90 million. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, equities analysts expect that IAA will post 1.59 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. acquired a new stake in shares of IAA during the second quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of IAA during the third quarter worth approximately $29,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of IAA during the second quarter worth approximately $33,000. FTB Advisors Inc. acquired a new stake in shares of IAA during the second quarter worth approximately $34,000. Finally, Crewe Advisors LLC acquired a new stake in shares of IAA during the second quarter worth approximately $34,000. Institutional investors own 93.80% of the company’s stock.

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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