Lazard Asset Management LLC Buys 2,998 Shares of IAA, Inc. (NYSE:IAA)

Lazard Asset Management LLC increased its stake in shares of IAA, Inc. (NYSE:IAAGet Rating) by 191.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,562 shares of the company’s stock after purchasing an additional 2,998 shares during the quarter. Lazard Asset Management LLC’s holdings in IAA were worth $149,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Advisor Group Holdings Inc. lifted its holdings in IAA by 1.6% in the first quarter. Advisor Group Holdings Inc. now owns 20,538 shares of the company’s stock valued at $35,112,000 after buying an additional 330 shares during the period. Guardian Capital LP lifted its holdings in IAA by 2.2% in the first quarter. Guardian Capital LP now owns 16,250 shares of the company’s stock valued at $622,000 after buying an additional 350 shares during the period. Profund Advisors LLC lifted its holdings in IAA by 5.0% in the first quarter. Profund Advisors LLC now owns 8,067 shares of the company’s stock valued at $309,000 after buying an additional 382 shares during the period. Signaturefd LLC lifted its holdings in IAA by 334.9% in the first quarter. Signaturefd LLC now owns 722 shares of the company’s stock valued at $28,000 after buying an additional 556 shares during the period. Finally, M&T Bank Corp lifted its holdings in IAA by 2.4% in the first quarter. M&T Bank Corp now owns 24,351 shares of the company’s stock valued at $931,000 after buying an additional 572 shares during the period. 99.63% of the stock is owned by institutional investors.

IAA Trading Down 0.7 %

Shares of NYSE:IAA opened at $38.99 on Tuesday. IAA, Inc. has a 12 month low of $31.32 and a 12 month high of $52.20. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.37. The company’s fifty day simple moving average is $36.03 and its 200 day simple moving average is $36.14. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 18.13 and a beta of 1.59.

IAA (NYSE:IAAGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). IAA had a return on equity of 76.94% and a net margin of 13.55%. The company had revenue of $497.50 million for the quarter, compared to analyst estimates of $476.61 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts forecast that IAA, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of IAA from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $40.00 in a report on Tuesday, November 8th. Robert W. Baird cut their target price on shares of IAA from $50.00 to $46.00 in a report on Wednesday, August 10th. CJS Securities lowered shares of IAA from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 8th. Northcoast Research lowered shares of IAA from a “buy” rating to a “neutral” rating in a report on Wednesday, November 9th. Finally, Barrington Research lowered shares of IAA from an “outperform” rating to an “underperform” rating in a report on Monday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.60.

About IAA

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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

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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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