Bank of Montreal Can grew its position in shares of IAA, Inc. (NYSE:IAA – Get Rating) by 36.5% during the second quarter, Holdings Channel reports. The firm owned 273,580 shares of the company’s stock after acquiring an additional 73,155 shares during the quarter. Bank of Montreal Can’s holdings in IAA were worth $10,287,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in IAA. Signaturefd LLC lifted its stake in IAA by 334.9% during the first quarter. Signaturefd LLC now owns 722 shares of the company’s stock worth $28,000 after purchasing an additional 556 shares in the last quarter. Covestor Ltd lifted its stake in IAA by 104.0% during the first quarter. Covestor Ltd now owns 1,287 shares of the company’s stock worth $49,000 after purchasing an additional 656 shares in the last quarter. Lazard Asset Management LLC acquired a new position in IAA during the first quarter worth $59,000. Crewe Advisors LLC lifted its stake in IAA by 841.1% during the second quarter. Crewe Advisors LLC now owns 2,334 shares of the company’s stock worth $76,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in IAA by 65.5% during the first quarter. Point72 Hong Kong Ltd now owns 3,403 shares of the company’s stock worth $130,000 after purchasing an additional 1,347 shares in the last quarter. 99.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently issued reports on IAA shares. Jefferies Financial Group cut IAA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $55.00 to $40.00 in a research note on Tuesday, November 8th. Barrington Research cut IAA from an “outperform” rating to an “underperform” rating in a research note on Monday, November 7th. Northcoast Research cut IAA from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 9th. CJS Securities cut IAA from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 8th. Finally, Robert W. Baird reduced their price objective on IAA from $50.00 to $46.00 in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.60.
IAA Stock Performance
IAA (NYSE:IAA – Get Rating) last posted its earnings results on Monday, November 7th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06). The business had revenue of $497.50 million during the quarter, compared to analysts’ expectations of $476.61 million. IAA had a net margin of 13.55% and a return on equity of 76.94%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. On average, sell-side analysts anticipate that IAA, Inc. will post 2.32 earnings per share for the current fiscal year.
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.
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