IAA Sees Unusually Large Options Volume (NYSE:IAA)

Thursday, June 10, 2021 | MarketBeat

IAA, Inc. (NYSE:IAA) was the recipient of unusually large options trading on Thursday. Stock investors acquired 29,090 call options on the company. This represents an increase of 1,575% compared to the typical daily volume of 1,737 call options.

Shares of NYSE IAA traded down $2.51 during mid-day trading on Thursday, hitting $53.53. 4,167,652 shares of the stock traded hands, compared to its average volume of 970,989. The company has a debt-to-equity ratio of 8.77, a quick ratio of 2.60 and a current ratio of 2.60. IAA has a 52 week low of $36.76 and a 52 week high of $66.85. The company has a market capitalization of $7.21 billion, a P/E ratio of 31.32 and a beta of 1.73. The stock has a fifty day moving average of $58.40.

IAA (NYSE:IAA) last released its quarterly earnings results on Tuesday, May 4th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.46 by $0.12. IAA had a return on equity of 669.99% and a net margin of 15.44%. The company had revenue of $423.50 million for the quarter, compared to analyst estimates of $391.61 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. Analysts forecast that IAA will post 2.07 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded IAA from a "hold" rating to a "buy" rating and set a $63.00 price target on the stock in a research report on Tuesday.

A number of institutional investors have recently added to or reduced their stakes in the business. Bruderman Asset Management LLC boosted its holdings in IAA by 4.8% in the first quarter. Bruderman Asset Management LLC now owns 3,827 shares of the company's stock worth $211,000 after acquiring an additional 174 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in IAA by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 44,690 shares of the company's stock worth $2,464,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. boosted its holdings in IAA by 35.0% in the first quarter. Whittier Trust Co. now owns 844 shares of the company's stock worth $47,000 after acquiring an additional 219 shares in the last quarter. Xponance Inc. boosted its holdings in IAA by 1.5% in the first quarter. Xponance Inc. now owns 17,577 shares of the company's stock worth $969,000 after acquiring an additional 267 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in IAA by 0.8% in the first quarter. Arizona State Retirement System now owns 39,143 shares of the company's stock worth $2,158,000 after acquiring an additional 298 shares in the last quarter.

IAA Company Profile

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.

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