View ValuationThis company has been acquiredThe company may no longer be operating, as it has been acquired. Find out why through their latest events.See Latest EventsIAA 将来の成長Future 基準チェック /16主要情報-4.1%収益成長率0.33%EPS成長率Commercial Services 収益成長13.4%収益成長率3.9%将来の株主資本利益率30.09%アナリストカバレッジGood最終更新日14 Mar 2023今後の成長に関する最新情報Price Target Changed • Jan 23Price target increased by 9.7% to US$47.70Up from US$43.50, the current price target is an average from 5 analysts. New target price is 11% above last closing price of US$43.05. The company is forecast to post earnings per share of US$2.17 for next year compared to US$2.19 last year.Price Target Changed • Nov 16Price target decreased to US$44.00Down from US$50.13, the current price target is an average from 4 analysts. New target price is 10% above last closing price of US$39.95. The company is forecast to post earnings per share of US$2.16 for next year compared to US$2.19 last year.Price Target Changed • Nov 09Price target decreased to US$46.20Down from US$50.13, the current price target is an average from 5 analysts. New target price is 25% above last closing price of US$37.07. The company is forecast to post earnings per share of US$2.13 for next year compared to US$2.19 last year.Major Estimate Revision • Feb 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$1.97b to US$2.07b. EPS estimate fell from US$2.47 to US$2.22 per share. Net income forecast to grow 0.5% next year vs 23% growth forecast for Commercial Services industry in the US. Consensus price target down from US$71.06 to US$51.44. Share price fell 23% to US$35.26 over the past week.Price Target Changed • Feb 12Price target decreased to US$65.17Down from US$70.50, the current price target is an average from 9 analysts. New target price is 83% above last closing price of US$35.67. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$2.26 for next year compared to US$1.45 last year.Major Estimate Revision • Nov 10Analysts increase EPS estimates to US$1.42The 2020 consensus revenue estimate increased from US$1.35b to US$1.37b. The earnings per share estimate also received an upgrade from US$1.22 to US$1.42 for the same period. Net income is expected to grow by 35% next year compared to 13% growth forecast for the Commercial Services industry in the US. The consensus price target increased from US$53.93 to US$64.67. Share price is up 3.8% to US$61.80 over the past week.すべての更新を表示Recent updatesReported Earnings • Feb 22Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: US$2.18 (down from US$2.19 in FY 2021). Revenue: US$2.10b (up 14% from FY 2021). Net income: US$292.4m (flat on FY 2021). Profit margin: 14% (down from 16% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • Jan 28IAA, Inc. to Report Q4, 2022 Results on Feb 21, 2023IAA, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 21, 2023Price Target Changed • Jan 23Price target increased by 9.7% to US$47.70Up from US$43.50, the current price target is an average from 5 analysts. New target price is 11% above last closing price of US$43.05. The company is forecast to post earnings per share of US$2.17 for next year compared to US$2.19 last year.Seeking Alpha • Jan 18Ritchie Bros. holder Luxor Capital files preliminary proxy opposing IAA dealRitchie Bros. (NYSE:RBA) holder Luxor Capital formally filed a preliminary proxy in opposition to the company's planned acquisition of auto salvage company IAA Inc. (NYSE:IAA). Luxor intends to vote against the proposal to approve the issuance of RBA (RBA) common shares in connection with the transaction and against the proposal to adjourn the special meeting, according to a statement. The proxy filing comes after Luxor, which has a ~3.6% stake in Ritchie Bros. (RBA), said it plans to vote against the purchase of IAA Inc. (IAA) as a deal would "severely erode RBA’s business quality and lacks compelling industrial logic." The Luxor opposition comes as Ritchie Bros. (RBA) shares plunged 18% on the day the $7.3 billion IAA deal was announced in November with some analysts questioning the transaction. Last month IAA holder Ancora Holdings said it planned to vote against the auto salvage company's sale to to Ritchie Bros. Last month Ritchie Bros (RBA) and IAA announced the companies had receive all necessary regulatory clearance for proposed merger.Price Target Changed • Nov 16Price target decreased to US$44.00Down from US$50.13, the current price target is an average from 4 analysts. New target price is 10% above last closing price of US$39.95. The company is forecast to post earnings per share of US$2.16 for next year compared to US$2.19 last year.Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Independent Director Mike Sieger was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Price Target Changed • Nov 09Price target decreased to US$46.20Down from US$50.13, the current price target is an average from 5 analysts. New target price is 25% above last closing price of US$37.07. The company is forecast to post earnings per share of US$2.13 for next year compared to US$2.19 last year.Reported Earnings • Nov 08Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: US$0.38 (down from US$0.49 in 3Q 2021). Revenue: US$497.5m (up 18% from 3Q 2021). Net income: US$50.3m (down 23% from 3Q 2021). Profit margin: 10% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Seeking Alpha • Nov 07IAA Non-GAAP EPS of $0.45 misses by $0.05, revenue of $497.5M beats by $20.89M, to be acquired by Ritchie Bros. in stock and cash deal of $7.3BIAA press release (NYSE:IAA): Q3 Non-GAAP EPS of $0.45 misses by $0.05. Revenue of $497.5M (+18.3% Y/Y) beats by $20.89M. In light of the transaction with Ritchie Bros. Auctioneers Incorporated announced separately today, IAA will not hold its third quarter 2022 financial results conference call, which was originally scheduled for November 10, 2022. In addition, IAA will no longer be providing financial outlook for fiscal 2022.Buying Opportunity • Nov 01Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be US$48.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 6.7% in 2 years. Earnings is forecast to decline by 4.8% in the next 2 years.Seeking Alpha • Sep 07IAA expands IAA Transport's service footprint to Mexico, NigeriaIAA (NYSE:IAA) said Wednesday it expanded IAA Transport's service footprint to include Mexico and Nigeria. Buyers in these countries can now generate real-time quotes on any vehicle for sale or any vehicle purchased by the buyer, both pre-payment and post-payment.Board Change • Aug 25Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Independent Director Mike Sieger was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Seeking Alpha • Aug 08IAA Q2 2022 Earnings PreviewIAA (NYSE:IAA) is scheduled to announce Q2 earnings results on Tuesday, August 9th, before market open. The consensus EPS Estimate is $0.57 (-17.4% Y/Y) and the consensus Revenue Estimate is $529.48M (+19.0% Y/Y). Over the last 2 years, IAA has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time. Over the last 3 months, EPS estimates have seen 1 upward revision and 6 downward. Revenue estimates have seen 2 upward revisions and 5 downward.Buying Opportunity • May 18Now 20% undervaluedOver the last 90 days, the stock is up 4.8%. The fair value is estimated to be US$46.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 9.0% in 2 years. Earnings is forecast to decline by 2.3% in the next 2 years.Reported Earnings • May 10First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: US$0.61 (up from US$0.54 in 1Q 2021). Revenue: US$557.6m (up 32% from 1Q 2021). Net income: US$81.5m (up 12% from 1Q 2021). Profit margin: 15% (down from 17% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 6.3%, compared to a 24% growth forecast for the industry in the US.Board Change • Apr 27High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. 1 highly experienced director. Independent Director Peter Kamin is the most experienced director on the board, commencing their role in 1999. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Seeking Alpha • Mar 24IAA, Inc.: Possible Change On The HorizonShares of salvage auctioneer IAA, Inc. are down some 20% after the company announced its FY22 forecast that included little organic revenue growth and none at its Adj. EBITDA line. A shift in business away from its traditional consignment model, inflationary pressures in towing, and the loss of business from a large customer are all to blame. With its forward price-to-sales and P/E ratios down by almost half since November 2021, the insider buying after the disappointing forecast merited a deeper dive. An activist shareholder has recently called for sale of the company or management changes. A full investment analysis follows in the paragraphs below.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 21% share price gain to US$38.98, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 25x in the Commercial Services industry in the US. Total loss to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$45.99 per share.Recent Insider Transactions • Mar 09CEO, President & Director recently bought US$161k worth of stockOn the 7th of March, John Kett bought around 5k shares on-market at roughly US$32.28 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.7m. This was John's only on-market trade for the last 12 months.Buying Opportunity • Mar 02Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be US$45.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% per annum over the last 3 years. Earnings per share has grown by 17% per annum over the last 3 years.Recent Insider Transactions • Feb 27Independent Director recently bought US$4.7m worth of stockOn the 18th of February, Peter Kamin bought around 133k shares on-market at roughly US$35.56 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$9.9m more in shares than they have sold in the last 12 months.Recent Insider Transactions • Feb 23Independent Director recently bought US$3.6m worth of stockOn the 16th of February, Peter Kamin bought around 100k shares on-market at roughly US$35.76 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.Seeking Alpha • Feb 21Insider Weekends: Peter Kamin Purchases Shares Of IAAPeter Kamin's purchase of IAA shares last week was the first insider purchase at IAA, since the company was spun off from KAR Auction Services in June 2019. IAA sports gross margin approaching 40%, EBITDA margin of 30%, and net income margin of 16%. Multiple insiders of IAA have exercised shares recently without selling them, which we view as a positive sign.Major Estimate Revision • Feb 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$1.97b to US$2.07b. EPS estimate fell from US$2.47 to US$2.22 per share. Net income forecast to grow 0.5% next year vs 23% growth forecast for Commercial Services industry in the US. Consensus price target down from US$71.06 to US$51.44. Share price fell 23% to US$35.26 over the past week.Reported Earnings • Feb 13Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: US$2.19 (up from US$1.45 in FY 2020). Revenue: US$1.84b (up 33% from FY 2020). Net income: US$294.4m (up 51% from FY 2020). Profit margin: 16% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the industry in the US.Buying Opportunity • Feb 13Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be US$44.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% per annum over the last 3 years. Earnings per share has grown by 17% per annum over the last 3 years.Price Target Changed • Feb 12Price target decreased to US$65.17Down from US$70.50, the current price target is an average from 9 analysts. New target price is 83% above last closing price of US$35.67. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$2.26 for next year compared to US$1.45 last year.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to US$35.67, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Commercial Services industry in the US. Total loss to shareholders of 43% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$70.55 per share.Board Change • Dec 03High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. 1 highly experienced director. Independent Director Peter Kamin is the most experienced director on the board, commencing their role in 1999. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS US$0.61 (vs US$0.25 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$445.1m (up 50% from 2Q 2020). Net income: US$82.9m (up 150% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue.Major Estimate Revision • Nov 10Analysts increase EPS estimates to US$1.42The 2020 consensus revenue estimate increased from US$1.35b to US$1.37b. The earnings per share estimate also received an upgrade from US$1.22 to US$1.42 for the same period. Net income is expected to grow by 35% next year compared to 13% growth forecast for the Commercial Services industry in the US. The consensus price target increased from US$53.93 to US$64.67. Share price is up 3.8% to US$61.80 over the past week.Is New 90 Day High Low • Nov 05New 90-day high: US$60.54The company is up 28% from its price of US$47.44 on 07 August 2020. The American market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$29.29 per share.Price Target Changed • Nov 05Price target raised to US$64.67Up from US$53.93, the current price target is an average from 8 analysts. The new target price is 6.8% above the current share price of US$60.54. As of last close, the stock is up 59% over the past year.Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS US$0.39The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$338.0m (down 5.4% from 3Q 2019). Net income: US$52.8m (up 26% from 3Q 2019). Profit margin: 16% (up from 12% in 3Q 2019). The increase in margin was driven by lower expenses.Analyst Estimate Surprise Post Earnings • Nov 05Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 11%, compared to a 4.7% growth forecast for the Commercial Services industry in the US.業績と収益の成長予測NYSE:IAA - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20252,398268243554112/31/20242,226278233542312/31/20232,17230019851661/1/20232,099292221399N/A10/2/20222,124288152343N/A7/3/20222,047303138291N/A4/3/20221,972303151288N/A1/2/20221,837294176311N/A9/26/20211,673285220328N/A6/27/20211,590272238343N/A3/28/20211,442223245334N/A12/27/20201,385195240310N/A9/27/20201,357176238292N/A6/28/20201,377165273326N/A3/29/20201,446183275332N/A12/29/20191,437193203271N/A9/29/20191,416194196281N/A6/30/20191,380191200275N/A3/31/20191,347190201273N/A12/30/20181,327184212278N/A9/30/20181,327206219269N/A7/1/20181,294190N/AN/AN/A4/1/20181,259178121175N/A12/31/20171,219161146201N/A10/1/20171,186115N/AN/AN/A6/30/20171,160114N/AN/AN/A4/2/20171,126102N/AN/AN/A1/1/20171,0989570112N/A9/30/20161,05795N/AN/AN/A6/30/20161,04293N/AN/AN/A3/31/20161,02693N/AN/AN/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: IAAの収益は今後 3 年間で減少すると予測されています (年間-4.1% )。収益対市場: IAAの収益は今後 3 年間で減少すると予測されています (年間-4.1% )。高成長収益: IAAの収益は今後 3 年間で減少すると予測されています。収益対市場: IAAの収益 ( 3.9% ) US市場 ( 11.6% ) よりも低い成長が予測されています。高い収益成長: IAAの収益 ( 3.9% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: IAAの 自己資本利益率 は、3年後には高くなると予測されています ( 30.1 %)成長企業の発掘7D1Y7D1Y7D1YCommercial-services 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2023/03/20 02:05終値2023/03/20 00:00収益2023/01/01年間収益2023/01/01データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋IAA, Inc. 6 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。10 アナリスト機関Craig KennisonBairdGary PrestopinoBarrington Research Associates, Inc.Christopher BottiglieriBNP Paribas7 その他のアナリストを表示
Price Target Changed • Jan 23Price target increased by 9.7% to US$47.70Up from US$43.50, the current price target is an average from 5 analysts. New target price is 11% above last closing price of US$43.05. The company is forecast to post earnings per share of US$2.17 for next year compared to US$2.19 last year.
Price Target Changed • Nov 16Price target decreased to US$44.00Down from US$50.13, the current price target is an average from 4 analysts. New target price is 10% above last closing price of US$39.95. The company is forecast to post earnings per share of US$2.16 for next year compared to US$2.19 last year.
Price Target Changed • Nov 09Price target decreased to US$46.20Down from US$50.13, the current price target is an average from 5 analysts. New target price is 25% above last closing price of US$37.07. The company is forecast to post earnings per share of US$2.13 for next year compared to US$2.19 last year.
Major Estimate Revision • Feb 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$1.97b to US$2.07b. EPS estimate fell from US$2.47 to US$2.22 per share. Net income forecast to grow 0.5% next year vs 23% growth forecast for Commercial Services industry in the US. Consensus price target down from US$71.06 to US$51.44. Share price fell 23% to US$35.26 over the past week.
Price Target Changed • Feb 12Price target decreased to US$65.17Down from US$70.50, the current price target is an average from 9 analysts. New target price is 83% above last closing price of US$35.67. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$2.26 for next year compared to US$1.45 last year.
Major Estimate Revision • Nov 10Analysts increase EPS estimates to US$1.42The 2020 consensus revenue estimate increased from US$1.35b to US$1.37b. The earnings per share estimate also received an upgrade from US$1.22 to US$1.42 for the same period. Net income is expected to grow by 35% next year compared to 13% growth forecast for the Commercial Services industry in the US. The consensus price target increased from US$53.93 to US$64.67. Share price is up 3.8% to US$61.80 over the past week.
Reported Earnings • Feb 22Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: US$2.18 (down from US$2.19 in FY 2021). Revenue: US$2.10b (up 14% from FY 2021). Net income: US$292.4m (flat on FY 2021). Profit margin: 14% (down from 16% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • Jan 28IAA, Inc. to Report Q4, 2022 Results on Feb 21, 2023IAA, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 21, 2023
Price Target Changed • Jan 23Price target increased by 9.7% to US$47.70Up from US$43.50, the current price target is an average from 5 analysts. New target price is 11% above last closing price of US$43.05. The company is forecast to post earnings per share of US$2.17 for next year compared to US$2.19 last year.
Seeking Alpha • Jan 18Ritchie Bros. holder Luxor Capital files preliminary proxy opposing IAA dealRitchie Bros. (NYSE:RBA) holder Luxor Capital formally filed a preliminary proxy in opposition to the company's planned acquisition of auto salvage company IAA Inc. (NYSE:IAA). Luxor intends to vote against the proposal to approve the issuance of RBA (RBA) common shares in connection with the transaction and against the proposal to adjourn the special meeting, according to a statement. The proxy filing comes after Luxor, which has a ~3.6% stake in Ritchie Bros. (RBA), said it plans to vote against the purchase of IAA Inc. (IAA) as a deal would "severely erode RBA’s business quality and lacks compelling industrial logic." The Luxor opposition comes as Ritchie Bros. (RBA) shares plunged 18% on the day the $7.3 billion IAA deal was announced in November with some analysts questioning the transaction. Last month IAA holder Ancora Holdings said it planned to vote against the auto salvage company's sale to to Ritchie Bros. Last month Ritchie Bros (RBA) and IAA announced the companies had receive all necessary regulatory clearance for proposed merger.
Price Target Changed • Nov 16Price target decreased to US$44.00Down from US$50.13, the current price target is an average from 4 analysts. New target price is 10% above last closing price of US$39.95. The company is forecast to post earnings per share of US$2.16 for next year compared to US$2.19 last year.
Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Independent Director Mike Sieger was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Price Target Changed • Nov 09Price target decreased to US$46.20Down from US$50.13, the current price target is an average from 5 analysts. New target price is 25% above last closing price of US$37.07. The company is forecast to post earnings per share of US$2.13 for next year compared to US$2.19 last year.
Reported Earnings • Nov 08Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: US$0.38 (down from US$0.49 in 3Q 2021). Revenue: US$497.5m (up 18% from 3Q 2021). Net income: US$50.3m (down 23% from 3Q 2021). Profit margin: 10% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Seeking Alpha • Nov 07IAA Non-GAAP EPS of $0.45 misses by $0.05, revenue of $497.5M beats by $20.89M, to be acquired by Ritchie Bros. in stock and cash deal of $7.3BIAA press release (NYSE:IAA): Q3 Non-GAAP EPS of $0.45 misses by $0.05. Revenue of $497.5M (+18.3% Y/Y) beats by $20.89M. In light of the transaction with Ritchie Bros. Auctioneers Incorporated announced separately today, IAA will not hold its third quarter 2022 financial results conference call, which was originally scheduled for November 10, 2022. In addition, IAA will no longer be providing financial outlook for fiscal 2022.
Buying Opportunity • Nov 01Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be US$48.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 6.7% in 2 years. Earnings is forecast to decline by 4.8% in the next 2 years.
Seeking Alpha • Sep 07IAA expands IAA Transport's service footprint to Mexico, NigeriaIAA (NYSE:IAA) said Wednesday it expanded IAA Transport's service footprint to include Mexico and Nigeria. Buyers in these countries can now generate real-time quotes on any vehicle for sale or any vehicle purchased by the buyer, both pre-payment and post-payment.
Board Change • Aug 25Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Independent Director Mike Sieger was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Seeking Alpha • Aug 08IAA Q2 2022 Earnings PreviewIAA (NYSE:IAA) is scheduled to announce Q2 earnings results on Tuesday, August 9th, before market open. The consensus EPS Estimate is $0.57 (-17.4% Y/Y) and the consensus Revenue Estimate is $529.48M (+19.0% Y/Y). Over the last 2 years, IAA has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time. Over the last 3 months, EPS estimates have seen 1 upward revision and 6 downward. Revenue estimates have seen 2 upward revisions and 5 downward.
Buying Opportunity • May 18Now 20% undervaluedOver the last 90 days, the stock is up 4.8%. The fair value is estimated to be US$46.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 9.0% in 2 years. Earnings is forecast to decline by 2.3% in the next 2 years.
Reported Earnings • May 10First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: US$0.61 (up from US$0.54 in 1Q 2021). Revenue: US$557.6m (up 32% from 1Q 2021). Net income: US$81.5m (up 12% from 1Q 2021). Profit margin: 15% (down from 17% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 6.3%, compared to a 24% growth forecast for the industry in the US.
Board Change • Apr 27High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. 1 highly experienced director. Independent Director Peter Kamin is the most experienced director on the board, commencing their role in 1999. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Seeking Alpha • Mar 24IAA, Inc.: Possible Change On The HorizonShares of salvage auctioneer IAA, Inc. are down some 20% after the company announced its FY22 forecast that included little organic revenue growth and none at its Adj. EBITDA line. A shift in business away from its traditional consignment model, inflationary pressures in towing, and the loss of business from a large customer are all to blame. With its forward price-to-sales and P/E ratios down by almost half since November 2021, the insider buying after the disappointing forecast merited a deeper dive. An activist shareholder has recently called for sale of the company or management changes. A full investment analysis follows in the paragraphs below.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 21% share price gain to US$38.98, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 25x in the Commercial Services industry in the US. Total loss to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$45.99 per share.
Recent Insider Transactions • Mar 09CEO, President & Director recently bought US$161k worth of stockOn the 7th of March, John Kett bought around 5k shares on-market at roughly US$32.28 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.7m. This was John's only on-market trade for the last 12 months.
Buying Opportunity • Mar 02Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be US$45.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% per annum over the last 3 years. Earnings per share has grown by 17% per annum over the last 3 years.
Recent Insider Transactions • Feb 27Independent Director recently bought US$4.7m worth of stockOn the 18th of February, Peter Kamin bought around 133k shares on-market at roughly US$35.56 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$9.9m more in shares than they have sold in the last 12 months.
Recent Insider Transactions • Feb 23Independent Director recently bought US$3.6m worth of stockOn the 16th of February, Peter Kamin bought around 100k shares on-market at roughly US$35.76 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.
Seeking Alpha • Feb 21Insider Weekends: Peter Kamin Purchases Shares Of IAAPeter Kamin's purchase of IAA shares last week was the first insider purchase at IAA, since the company was spun off from KAR Auction Services in June 2019. IAA sports gross margin approaching 40%, EBITDA margin of 30%, and net income margin of 16%. Multiple insiders of IAA have exercised shares recently without selling them, which we view as a positive sign.
Major Estimate Revision • Feb 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$1.97b to US$2.07b. EPS estimate fell from US$2.47 to US$2.22 per share. Net income forecast to grow 0.5% next year vs 23% growth forecast for Commercial Services industry in the US. Consensus price target down from US$71.06 to US$51.44. Share price fell 23% to US$35.26 over the past week.
Reported Earnings • Feb 13Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: US$2.19 (up from US$1.45 in FY 2020). Revenue: US$1.84b (up 33% from FY 2020). Net income: US$294.4m (up 51% from FY 2020). Profit margin: 16% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the industry in the US.
Buying Opportunity • Feb 13Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be US$44.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% per annum over the last 3 years. Earnings per share has grown by 17% per annum over the last 3 years.
Price Target Changed • Feb 12Price target decreased to US$65.17Down from US$70.50, the current price target is an average from 9 analysts. New target price is 83% above last closing price of US$35.67. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$2.26 for next year compared to US$1.45 last year.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to US$35.67, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Commercial Services industry in the US. Total loss to shareholders of 43% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$70.55 per share.
Board Change • Dec 03High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. 1 highly experienced director. Independent Director Peter Kamin is the most experienced director on the board, commencing their role in 1999. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS US$0.61 (vs US$0.25 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$445.1m (up 50% from 2Q 2020). Net income: US$82.9m (up 150% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue.
Major Estimate Revision • Nov 10Analysts increase EPS estimates to US$1.42The 2020 consensus revenue estimate increased from US$1.35b to US$1.37b. The earnings per share estimate also received an upgrade from US$1.22 to US$1.42 for the same period. Net income is expected to grow by 35% next year compared to 13% growth forecast for the Commercial Services industry in the US. The consensus price target increased from US$53.93 to US$64.67. Share price is up 3.8% to US$61.80 over the past week.
Is New 90 Day High Low • Nov 05New 90-day high: US$60.54The company is up 28% from its price of US$47.44 on 07 August 2020. The American market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$29.29 per share.
Price Target Changed • Nov 05Price target raised to US$64.67Up from US$53.93, the current price target is an average from 8 analysts. The new target price is 6.8% above the current share price of US$60.54. As of last close, the stock is up 59% over the past year.
Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS US$0.39The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$338.0m (down 5.4% from 3Q 2019). Net income: US$52.8m (up 26% from 3Q 2019). Profit margin: 16% (up from 12% in 3Q 2019). The increase in margin was driven by lower expenses.
Analyst Estimate Surprise Post Earnings • Nov 05Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 11%, compared to a 4.7% growth forecast for the Commercial Services industry in the US.