Taking this into account, Robert W. Baird downgraded its IAA Inc. [IAA] rating to a Neutral from a an Outperform in a research note published on Tuesday, January 05, 2023; the price target was decreased to $44 from $46. PT values the company’s stock at a premium of 12.32 to its Tuesday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in early November from “a Buy” to “a Hold”. Guggenheim also remained covering IAA and has increased its forecast on June 09, 2022 with a “Buy” recommendation from previously “Neutral” rating. Barrington Research revised its rating on May 10, 2022. It rated IAA as “an Outperform” which previously was an “a Mkt perform”.
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Price Performance Review of IAA
On Tuesday, IAA Inc. [NYSE:IAA] saw its stock jump 0.68% to $38.58. On the same session, the stock had its day’s lowest price of $38.305, but rose to a high of $38.85. Over the last five days, the stock has lost -5.70%. IAA Inc. shares have fallen nearly -3.55% since the year began. Nevertheless, the stocks have risen 9.45% over the past one year. While a 52-week high of $44.07 was reached on 02/14/23, a 52-week low of $31.32 was recorded on 03/06/23. SMA at 50 days reached $40.91, while 200 days put it at $37.59. A total of 2.66 million shares were traded, compared to the trading of 2.78 million shares in the previous session.
Levels Of Support And Resistance For IAA Stock
The 24-hour chart illustrates a support level at 38.31, which if violated will result in even more drops to 38.03. On the upside, there is a resistance level at 38.85. A further resistance level may holdings at 39.12. The Relative Strength Index (RSI) on the 14-day chart is 34.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.59%. Stochastics %K at 17.85% indicates the stock is a buying.
How much short interest is there in IAA Inc.?
A steep rise in short interest was recorded in IAA Inc. stocks on Jan 12, 2023, growing by 0.17 million shares to a total of 5.08 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.91 million shares. There was a rise of 3.35%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.79.
IAA Inc. [IAA] – Who Are The Largest Shareholders?
In filings from Melvin Capital Management LP, it is revealed that the company now owns 13,100,000 shares, or roughly 9.79% of the outstanding IAA shares. In other words, the investor’s shares have risen by 6,275,000 from its previous 13-F filing of 6825000.0. Additionally, The Vanguard Group, Inc. increased 1.51% of its stake after which the total value it holdings stand at $510,188,268, while BlackRock Fund Advisors added 5.02% of its stake to hold $451.69 million in the firm. Over the last quarter, Cooke & Bieler LP sold -834,602 shares of IAA Inc., while Independent Franchise Partners LL sold 2,760,967 shares. At present, Atlanta Capital Management Co. LL is holding 5,748,805 shares valued at $239.9 million. Discerene Group LP owned 4,768,748 shares of the company at the time of its most recent 13F filing, worth $199.0 million.
According to FactSet, IAA Inc.’s share price will average $43.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.52 percent from its previous closing price of $38.32. Analysts expect IAA Inc. stock to reach the higher price of $46.00, while the lowest price estimate is $40.00. However, 6 analysts have rated IAA stock as a Hold in their predictions for 2023.