IAA (NYSE:IAA) issued its earnings results on Tuesday. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.12, MarketWatch Earnings reports. IAA had a net margin of 12.99% and a negative return on equity of 246.98%. The company had revenue of $423.50 million for the quarter, compared to the consensus estimate of $391.61 million. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year.
IAA stock traded down $3.84 during mid-day trading on Tuesday, hitting $59.50. 60,206 shares of the company were exchanged, compared to its average volume of 909,469. IAA has a 1-year low of $32.13 and a 1-year high of $66.85. The firm’s 50 day simple moving average is $58.22 and its 200 day simple moving average is $60.03. The firm has a market cap of $8.02 billion, a P/E ratio of 45.27, a P/E/G ratio of 4.90 and a beta of 1.69.
IAA has been the subject of several recent analyst reports. Northcoast Research raised shares of IAA from a “neutral” rating to a “buy” rating in a report on Friday, February 5th. Zacks Investment Research downgraded IAA from a “buy” rating to a “hold” rating in a report on Tuesday, April 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $59.50.
IAA, Inc provides auction solutions for total loss, damaged, and low-value vehicles. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a spectrum of sellers. Its solutions provide buyers with the vehicles need to, among other things, fulfill vehicle rebuild requirements, replacement part inventory, or scrap demand.
Further Reading: Capital Gains Distribution
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