CJS Securities Downgrades IAA (NYSE:IAA) to Market Perform

IAA (NYSE:IAA) was downgraded by investment analysts at CJS Securities from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Other analysts also recently issued reports about the stock. Stephens initiated coverage on shares of IAA in a report on Monday, July 1st. They set an “overweight” rating and a $45.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of IAA in a report on Wednesday, July 31st. They set a “buy” rating and a $55.00 target price on the stock. SunTrust Banks restated a “buy” rating and set a $53.00 target price on shares of IAA in a report on Wednesday. Wolfe Research initiated coverage on shares of IAA in a report on Friday, July 12th. They set an “outperform” rating on the stock. Finally, Northcoast Research restated a “neutral” rating on shares of IAA in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. IAA has a consensus rating of “Buy” and a consensus price target of $48.80.

IAA stock traded down $1.27 during midday trading on Wednesday, hitting $44.26. 2,608 shares of the stock were exchanged, compared to its average volume of 1,671,829. IAA has a 52 week low of $38.08 and a 52 week high of $48.49.

IAA (NYSE:IAA) last announced its earnings results on Tuesday, August 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. The company had revenue of $366.40 million for the quarter, compared to analyst estimates of $357.90 million. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Analysts expect that IAA will post 1.38 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of IAA in the second quarter valued at approximately $398,867,000. Mawer Investment Management Ltd. acquired a new stake in shares of IAA in the second quarter valued at approximately $154,280,000. Janus Henderson Group PLC acquired a new stake in shares of IAA in the second quarter valued at approximately $132,397,000. Bessemer Group Inc. acquired a new stake in shares of IAA in the second quarter valued at approximately $105,420,000. Finally, Cardinal Capital Management LLC CT bought a new position in shares of IAA in the second quarter valued at $100,665,000.

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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