IAA (NYSE:IAA) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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IAA (NYSE:IAA) released its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08, Briefing.com reports. The company had revenue of $366.40 million for the quarter, compared to analyst estimates of $357.90 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis.

Shares of NYSE IAA opened at $44.44 on Wednesday. IAA has a 12-month low of $38.08 and a 12-month high of $48.49.

IAA has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of IAA in a research report on Wednesday, July 31st. They set a “buy” rating and a $55.00 price target for the company. Northcoast Research restated a “neutral” rating on shares of IAA in a research report on Monday, July 1st. SunTrust Banks restated a “buy” rating and set a $53.00 price target on shares of IAA in a research report on Wednesday. Robert W. Baird initiated coverage on shares of IAA in a research report on Friday, June 28th. They set an “outperform” rating for the company. Finally, Stephens initiated coverage on shares of IAA in a research report on Monday, July 1st. They set an “overweight” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. IAA currently has an average rating of “Buy” and an average price target of $48.80.

IAA Company Profile

IAA, Inc provides salvage vehicle auctions and related services. It offers salvage auction services, such as inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The company's salvage auctions facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, charity donation vehicles, recovered stolen (or theft) vehicles, and low value used vehicles through live and online auctions.

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