Q2 2022 EPS Estimates for IAA, Inc. Lowered by Analyst (NYSE:IAA)

IAA, Inc. (NYSE:IAAGet Rating) – Equities research analysts at Jefferies Financial Group decreased their Q2 2022 EPS estimates for IAA in a research note issued on Tuesday, May 10th. Jefferies Financial Group analyst B. Jordan now expects that the company will post earnings per share of $0.56 for the quarter, down from their prior estimate of $0.57. Jefferies Financial Group also issued estimates for IAA’s Q3 2022 earnings at $0.54 EPS, Q1 2023 earnings at $0.69 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.64 EPS and FY2023 earnings at $2.53 EPS.

Other analysts also recently issued research reports about the stock. Guggenheim downgraded shares of IAA from a “buy” rating to a “neutral” rating in a report on Monday, February 14th. TheStreet cut shares of IAA from a “c-” rating to a “d+” rating in a report on Wednesday, March 23rd. Barrington Research raised IAA from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Tuesday. Truist Financial lowered their target price on IAA from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, February 14th. Finally, Zacks Investment Research upgraded IAA from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, IAA currently has a consensus rating of “Buy” and an average target price of $52.75.

Shares of IAA stock opened at $34.36 on Thursday. The stock has a fifty day moving average price of $36.98 and a 200-day moving average price of $43.90. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $4.61 billion, a PE ratio of 15.76 and a beta of 1.56. IAA has a 1 year low of $31.32 and a 1 year high of $63.49.

IAA (NYSE:IAAGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. IAA had a return on equity of 129.04% and a net margin of 16.02%. The company had revenue of $557.60 million during the quarter, compared to analyst estimates of $533.75 million. During the same period in the prior year, the company posted $0.58 earnings per share. IAA’s quarterly revenue was up 31.7% on a year-over-year basis.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in shares of IAA by 97.0% during the second quarter. Morgan Stanley now owns 736,290 shares of the company’s stock worth $40,156,000 after purchasing an additional 362,482 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of IAA by 3.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 22,478 shares of the company’s stock worth $1,227,000 after buying an additional 854 shares during the last quarter. Keybank National Association OH raised its position in shares of IAA by 20.6% during the 3rd quarter. Keybank National Association OH now owns 5,295 shares of the company’s stock valued at $289,000 after buying an additional 906 shares in the last quarter. Swiss National Bank lifted its holdings in shares of IAA by 0.4% during the 3rd quarter. Swiss National Bank now owns 297,800 shares of the company’s stock worth $16,251,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in IAA by 28.1% in the third quarter. Toronto Dominion Bank now owns 26,483 shares of the company’s stock worth $1,445,000 after acquiring an additional 5,813 shares in the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO John W. Kett purchased 5,000 shares of the business’s stock in a transaction on Monday, March 7th. The stock was purchased at an average cost of $32.28 per share, with a total value of $161,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Kamin purchased 132,100 shares of the firm’s stock in a transaction dated Thursday, February 17th. The stock was purchased at an average cost of $35.61 per share, for a total transaction of $4,704,081.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 220,100 shares of company stock worth $7,729,181 in the last three months. Insiders own 0.17% of the company’s stock.

About IAA (Get Rating)

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.

Further Reading

Earnings History and Estimates for IAA (NYSE:IAA)

Receive News & Ratings for IAA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAA and related companies with MarketBeat.com's FREE daily email newsletter.