Retirement Systems of Alabama purchased a new position in shares of IAA (NYSE:IAA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 51,334 shares of the company’s stock, valued at approximately $1,991,000.
Separately, KAMES CAPITAL plc bought a new stake in IAA during the second quarter worth about $23,638,000.
Several equities research analysts have issued reports on IAA shares. Wolfe Research initiated coverage on IAA in a research note on Friday, July 12th. They set an “outperform” rating for the company. Jefferies Financial Group initiated coverage on IAA in a report on Wednesday. They issued a “buy” rating and a $55.00 price objective on the stock. Robert W. Baird initiated coverage on IAA in a report on Friday, June 28th. They issued an “outperform” rating on the stock. Stephens initiated coverage on IAA in a report on Monday, July 1st. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, SunTrust Banks initiated coverage on IAA in a report on Monday, July 1st. They issued a “buy” rating and a $47.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. IAA presently has an average rating of “Buy” and a consensus price target of $47.60.
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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