IAA, Inc. (NYSE:IAA – Get Rating) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 9,770,000 shares, an increase of 5.9% from the February 13th total of 9,230,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 7.3% of the shares of the stock are short sold.
IAA Stock Down 1.2 %
IAA stock opened at $39.93 on Friday. The company's 50 day simple moving average is $41.03 and its 200 day simple moving average is $38.41. IAA has a fifty-two week low of $31.50 and a fifty-two week high of $44.07. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 18.23 and a beta of 1.44. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.75 and a quick ratio of 1.75.
Get IAA alerts:IAA (NYSE:IAA – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $523.50 million for the quarter, compared to analyst estimates of $524.55 million. IAA had a net margin of 13.93% and a return on equity of 67.28%. IAA's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that IAA will post 2.43 EPS for the current year.
Analysts Set New Price Targets
Separately, Robert W. Baird lowered shares of IAA from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $46.00 to $44.00 in a report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $46.50.
Institutional Trading of IAA
Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in IAA by 64.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 750 shares of the company's stock worth $25,000 after buying an additional 293 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of IAA in the third quarter valued at approximately $36,000. Covestor Ltd raised its holdings in shares of IAA by 104.0% in the first quarter. Covestor Ltd now owns 1,287 shares of the company's stock valued at $49,000 after purchasing an additional 656 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of IAA in the first quarter valued at approximately $59,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of IAA in the second quarter valued at approximately $77,000. 99.77% of the stock is currently owned by institutional investors and hedge funds.
About IAA
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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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