Zacks Investment Research cut shares of IAA (NYSE:IAA) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, 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. “

Other equities analysts have also issued research reports about the company. Jefferies Financial Group began coverage on IAA in a research note on Wednesday, July 31st. They issued a buy rating and a $55.00 target price on the stock. Wolfe Research began coverage on IAA in a research note on Friday, July 12th. They issued an outperform rating on the stock. CJS Securities lowered IAA from an outperform rating to a market perform rating in a research note on Wednesday, August 14th. Northcoast Research reissued a neutral rating on shares of IAA in a research note on Monday, July 1st. Finally, Robert W. Baird started coverage on IAA in a research note on Friday, June 28th. They issued an outperform rating on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $49.67.

NYSE:IAA opened at $37.72 on Wednesday. IAA has a 1-year low of $34.96 and a 1-year high of $49.96. The firm has a 50-day moving average of $43.06.

IAA (NYSE:IAA) last released its earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share for the quarter, beating the 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 posted $0.41 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that IAA will post 1.59 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of IAA by 5.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the company’s stock worth $339,000 after acquiring an additional 387 shares in the last quarter. Webster Bank N. A. increased its holdings in shares of IAA by 91.8% in the third quarter. Webster Bank N. A. now owns 934 shares of the company’s stock worth $39,000 after acquiring an additional 447 shares in the last quarter. Riverview Trust Co bought a new stake in shares of IAA in the third quarter worth about $29,000. Advisor Group Inc. bought a new stake in shares of IAA in the second quarter worth about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of IAA in the second quarter worth about $33,000. Institutional investors own 94.14% 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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