Bank of New York Mellon Corp decreased its holdings in IAA, Inc. (NYSE:IAA – Get Rating) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,229,903 shares of the company's stock after selling 92,645 shares during the quarter. Bank of New York Mellon Corp owned 0.92% of IAA worth $39,172,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of IAA. Macquarie Group Ltd. boosted its holdings in shares of IAA by 23.1% in the third quarter. Macquarie Group Ltd. now owns 171,860 shares of the company's stock worth $5,510,000 after buying an additional 32,287 shares during the period. Bank of Montreal Can grew its position in IAA by 36.5% during the 2nd quarter. Bank of Montreal Can now owns 273,580 shares of the company's stock worth $10,287,000 after purchasing an additional 73,155 shares in the last quarter. Teacher Retirement System of Texas raised its stake in IAA by 54.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 32,912 shares of the company's stock valued at $1,048,000 after purchasing an additional 11,606 shares during the period. Amalgamated Bank lifted its holdings in shares of IAA by 2.1% in the third quarter. Amalgamated Bank now owns 100,743 shares of the company's stock valued at $3,209,000 after purchasing an additional 2,061 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in IAA by 344.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 499,094 shares of the company's stock valued at $15,896,000 after acquiring an additional 386,686 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company's stock.
Get IAA alerts:IAA Trading Up 10.4 %
Shares of NYSE IAA opened at $41.51 on Monday. The business has a 50 day simple moving average of $40.98 and a 200 day simple moving average of $38.31. IAA, Inc. has a 52 week low of $31.50 and a 52 week high of $44.07. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 18.95 and a beta of 1.44. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.75 and a current ratio of 1.75.
IAA (NYSE:IAA – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. IAA had a net margin of 13.93% and a return on equity of 67.28%. The firm had revenue of $523.50 million during the quarter, compared to analysts' expectations of $524.55 million. During the same period in the prior year, the company posted $0.61 earnings per share. IAA's revenue for the quarter was down 4.5% on a year-over-year basis. On average, research analysts predict that IAA, Inc. will post 2.43 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Separately, Robert W. Baird lowered shares of IAA from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $46.00 to $44.00 in a research note on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $46.50.
IAA Company Profile
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IAA, Inc engages in the provision of auction solutions for total loss, damaged and low-value vehicles. Its solutions focus on a diverse set of global customers, providing buyers with rebuild requirements, replacement part inventory and scrap demand. It operates through the following segments: United States and International.
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